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Trinity Ventures Has Raised Its $325M Eleventh Fund

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http://techcrunch.com – Hey, remember that $325 million fund we said Trinity Ventures was raising last week? Well, the firm says it finished raising the fund yesterday. General partner Fred Wang tells me that the target for the fund, Trinity Ventures XI, was $300 million (the same as its last fund), but there was enough interest from limited partners (LPs) that it raised an extra $25 million — there was a hard cap at $325 million. Even though that’s a sizable amount, Wang says it was a deliberate choice not to raise even more, because one of Trinity’s points of pride is its partner-to-capital ratio. (Th (IT news)

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Submitted by linuxgeek on 10/10/2012

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Early-stage investment firm Trinity Ventures is raising a $325 million fund, according to a filing with the Securities and Exchange Commission. The firm was founded in 1986, and says it makes seed and early-stage deals on companies in cloud and mobile infrastructure, digital media, software as a service, social commerce, and entertainment. This is Trinity’s eleventh fund.

Lerer Ventures, one of the better known seed stage venture capital funds based out of New York, is raising a $30 million fund, according to its Form D filed today with the SEC. It’s the third fund in the venture firm’s history and aims to raise the bar a bit from Lerer’s second fund, of $25 million, which it raised in May 2011.

Grotech Ventures, the Virginia-based VC firm behind LivingSocial, HelloWallet and others; is announcing the raise of its eighth fund, Grotech Ventures II (“GV II”), with $225 million in committed capital. The firm says the fund was oversubscribed by more than 10 percent, and was raised from both existing and new limited partners.

Boston-based VC firm Spark Capital is announcing its fourth fund this evening, raising $450 million for the firm’s biggest investment fund to date. Spark, who raised $360 million for its last fund, now has $1.4 billion under management.

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Editor’s note: Patricia Nakache is a general partner at Trinity Ventures where she invests in early stage social commerce and entertainment companies. Follow her on Twitter @pnakache. The prevailing wisdom among entrepreneurs these days is that they should initially fund their startups with a $1-2 million convertible note.

Chamath Palihapitiya, the early Facebook executive who left the company in 2011 to launch The Social+Capital Partnership, said today that he has raised a second fund. Palihapitiya, who was speaking at the Launch conference in San Francisco, didn’t specify the fund size or the limited partners who invested.

This week’s Ask A VC series features a slew of awesome guests in the investment world.