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Trinity Ventures closes tenth fund with USD300m to invest in IT companies

Trinity Ventures, an investor in early-stage information technology companies, has announced the closing of Trinity Ventures X.

Trinity Ventures, an investor in early-stage information technology companies, has announced the closing of Trinity Ventures X.

The fund was oversubscribed and was limited to USD300m in commitments, consistent with Trinity’s three previous funds.

Trinity X will invest in the software, IT infrastructure and services sectors. Target investment areas include business and consumer online services, virtualization and cloud computing, digital media and online advertising platforms, software as a service, energy efficiency solutions and mobile technology.

‘We were pleased with the strong support from our investors, which enabled us to close our target amount on schedule, despite turmoil in the markets,’ says Fred Wang, general partner at Trinity Ventures.

The fund is comprised primarily of commitments from returning investors, though it also includes a select number of new investors.

‘We kept the fund the same size as our prior funds, so we can continue our strategy of investing selectively in capital-efficient, early stage companies and our commitment to being accessible and responsive board members,’ says Wang.

The fund will invest between USD2m and USD20m in approximately 30 companies.

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