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Redpoint Ventures closes early stage venture capital fund

Redpoint Ventures has closed Redpoint IV, a USD400m early stage venture capital fund.

Redpoint IV will be used to back entrepreneurs and companies that will help in the social and mobile internet, cloud computing and clean technology spaces.

In the past six months, Redpoint entrepreneurs have realised liquidity totalling nearly USD2bn in aggregate market value, including the IPO of Fortinet and the acquisitions of LifeSize, WiChorus, Networks in Motion and Kazeon.

Additionally, portfolio companies Calix and Solyndra have filed for their IPO.

"This latest Redpoint fund will help entrepreneurs fulfil their dreams in a world of promising opportunity, and signals an exciting period for early stage investing over the next five years," says Geoff Yang (pictured), founding partner of Redpoint Ventures. "We continue to find entrepreneurs who have brilliant ideas and an increasingly strong desire to change the world. We are committed to invest in those entrepreneurs, to stand behind their ideas and to help them achieve their goals."

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