IDG Ventures Atlantic, a Boston-based venture capital firm that once relied on the major publishing company IDG as its main source of financial backing, has changed its name.
It will now be called Flybridge Capital, to reflect the fact that it has a variety of investors, and that IDG is no longer the leading investor. The firm also announced today it has raised $280 million more for its third fund, to invest in early-stage companies in the consumer, healthcare and information technology industries.
The name-change of the firm, founded in 2001, will also help distinguish it from other venture firms carrying the IDG name — all of which affiliated with IDG is some way.
Limited partners include Princeton University, the Alfred I. duPont Testamentary Trust, AlpInvest Partners, FLAG Capital Management, Grove Street Advisors, HighVista Strategies, Knightsbridge Advisers, TrueBridge Capital Partners, and VenCap International.
Tags: inv:Flybridge Capital, inv:IDG Ventures Atlantic
10:09 am
How do you manage packs of proud VCs globally? You don’t, unless you’re IDG or DFJ » VentureBeat said:
[...] been discussing IDG’s plans recently, after IDG’s Boston unit broke off last month and changed its name to FlyBridge Capital Partners, removing its affiliation with IDG. The move sparked a minor controversy, around who was [...]
4:38 pm
In a first, China removes profit repatriation tax for U.S. investor » VentureBeat said:
[...] premium,” McGovern says, compared to a sale. In that light, its easy to understand why IDG decided to not reinvest in Flybridge Capital Partners, the firm previously known as IDG Boston. With China returning a 41 percent IRR, it didn’t [...]