Deals

Looks like IDG Ventures is prepping a $100M raise for its third fund

Above: IDG Ventures partners Alexander Rosen, Pat Kenealy, and Phil Sanderson.

While snooping through SEC filings today, we saw that IDG Ventures‘ San Francisco team has been out shaking down the moneybags of Silicon Valley and beyond.

The firm is about $65 million down, $35 million to go in a proposed $100 million fundraising spree. The fund is IDG Ventures III, and its first dollars were locked down on Feb. 6.

IDG Ventures focuses on early-stage startups (so $100 million goes a long way; the typical investment for such companies is $1 million to $5 million per round) in media, enterprise IT, and consumer Internet.

Its portfolio includes such well-known entities as Indiegogo, Minted, and SimplyHired. Its managing directors include veterans Alexander Rosen, Pat Kenealy, and Phil Sanderson.

IDG Ventures also has distinct investment funds in China, India, Korea, and Vietnam. Collectively, the partnership boasts “approximately $3.6 billion under management and a portfolio of over 220 companies built over the last 15 years.”

More about the companies and people from this article:

IDG Ventures is a global network of venture capital funds with approximately $3.7 billion under management and a portfolio of over 220 companies built over the last 15 years. The IDG Ventures network is comprised of six independent par... read more »

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