SVB Capital and Battery raise latest VC funds — Battery on a roll

July 6, 2007 | Matt Marshall

SVB Capital, an arm of the SVB Financial Group that invests money into different venture capital funds has raised a $255 million pool of capital for the effort.

Meanwhile, Battery Ventures announced that its new venture fund totals $750 million, somewhat lower than the $800 we cited recently based on other reports.

SVB Capital is a so-called “fund of funds” because it spreads money across different venture firms, which in turn invest the money into start-ups and other companies. Its new fund was reported this morning by VentureWire (subscription required). That reported pointed out that the fund is larger than its previous $175 million fund raised in 2004.

Meanwhile, a Battery representative told VentureBeat today that its plan was always to raise $750 million, and that it doesn’t know where PE Week got the earlier reported figure of $800 million. The firm has done well recently: Five IPOs in the past 18 months: Cbeyond (NASDAQ: CBEY), MetroPCS (NYSE: PCS), Omniture (NASDAQ: OMTR), Optium (NASDAQ: OPTM) and Veraz Networks (NASDAQ: VRAZ), and various acquisitions, including the following where the firm says it made a profit: Broadbus (by Motorola); CipherTrust (by Secure Computing); Kashya (by EMC); OutlookSoft (by SAP); ProfitLogic by (Oracle).

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.