Highland Capital launches $300M consumer VC fund

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Highland Capital Partners, a venture capital firm based in Lexington, Mass. and Menlo Park, Calif., said it has raised $300 million for a new fund to invest in companies focused on “consumers.”

The firm said partners Tom Stemberg and Ted Philip will lead the new fund as managing general partners, and that it will be based in Lexington.

Stemberg co-founded Staples in 1986, a company that expanded its office products and supplies stories rapidly. He joined the firm in 2005, and sits on the boards of CarMax, lululemon athletica, PETsMART and The NASDAQ Stock Market.