Better Times for VCs? Redpoint Raise $400 Million Fund Focused on Social, Mobile, Cloud and Clean |
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BoomTown —
Redpoint Ventures announced that it had closed a new $400 million fund to invest in early-stage start-ups in the “social and mobile Internet, cloud computing and clean technology spaces.” The last fund that the Menlo Park, Calif.-based venture firm raised was $250 million in March of 2007, which was called Redpoint Omega and aimed at later-stage start-ups. The last early-stage fund, Redpoint III, was in February of 2007 and was also $400 million. While Redpoint’s new fund size did not increase, as they often do, is today’s closing a sign that things are looking up for the venture busines–especially in Silicon after one of the toughest years in a dozen , with the amount VCs made in 2009 dropping 37 percent, according to a recent report? Who knows–but here’s the skinny on the Redpoint IV fund: Redpoint Ventures Forms $400 Million Fund for Social and Mobile Internet, Cloud Computing and Clean Technology Redpoint Portfolio Exits Total Nearly $2B in
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