Globespan Capital Partners raies fifth fund, at $380M

September 10, 2007 | Matt Marshall

Globespan Capital Partners, a Palo Alto, Calif. venture capital firm, has raised $380 million for its fifth fund, and plans to invest a portion of it into Japanese technology companies, according to VentureWire (subscription required).

It is the first fund raised without investment from Jafco, the Japanese investment firm from which Globespun was originally a spin-out, according to Barry Schiffman, a co-founder of Globespan.

Globespan Capital Partners’ most recent fund, its fourth, raised in 2002, has a net internal rate of return of negative 5.2 percent as of Dec. 31, according data published by another Globespan investor, the University of California.

However, it has since had results from companies like BladeLogic, Clearwire Corp., Glu Mobile Inc., ShoreTel Inc. and Virtusa Corp., which have been sold or gone public.

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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.