U.S. Venture Partners raises $625M fund for new investments

July 28, 2008 | Matt Marshall

Silicon Valley venture capital firm U.S. Venture Partners has raised $625 million for its tenth fund, to invest in new companies, despite mediocre performance.

The amount was reported in a July 14 regulatory filing, and reported this morning by VentureWire.

USVP, based in Menlo Park, Calif., invests in technology and health care, and is starting to invest in clean technology. U.S. Venture Partners X LP is similar in size to the $600 million ninth fund the firm closed in 2004.

It’s still early to tell how the firm’s ninth fund is doing, but its eighth fund hasn’t done very well.

That 2001 fund has an internal rate of return of negative 2.5 percent as of December, according to one of its investors. The median IRR for 2001-vintage funds was 4 percent, according to Cambridge Associates.

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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.