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Sierra Ventures has a new, albeit small, bag of cash.
The San Mateo, Calif.-based venture-capital firm has just closed its 10th fund at $145 million. This fund is only half of its previous one and has taken two years to close, according to a VentureWire report.
The firm currently has seven investing partners, although only four of them will go on to the new fund while the other three — Steven Williams, Peter Wendell, and David Schwab — will continue to manage prior investments without making new ones.
“There are many ways to organize a venture fund to make money. We have a deep belief that the maximum value creation happens in the early side of the venture cycle,” said Sierra Ventures managing director Tim Guleri to VentureWire. “It doesn’t take a massive firm of people or infrastructure for that strategy.”
Guleri also revealed that 60 percent of the previous fund’s limited partners have invested in this new one and that the fund will invest in early-stage software infrastructure startups as much as the firm did with the last fund.
So far, the firm has made six undisclosed seed investments and eight early-stage investments from this fund.
Some of its past investments include Hired, ElasticBox, TreasureData, Runnable, Bina Technologies, Adometry, and Alpine Data Labs.
Sierra Ventures was established in 1982 and had already invested over $1.5 billion prior to this new fund.
Sierra Ventures is a venture capital firm specializing in investments in all stages of a company’s lifecycle from seed to growth. It does not invest in biotechnology, medical device, or healthcare companies. The firm typically invest... read more »
Adometry, Inc. provides scoring, auditing, verification, and attribution metrics to optimize results for online advertisers, agencies, publishers, and ad networks. Tracking billions of impressions in real-time, reporting on where they ... read more »
A serial entrepreneur, Tim built two software infrastructure companies before joining Sierra in 2001. He headed Sales and Marketing functions at Scopus Technology (NASDAQ:SCOP), which went public in 1995, and was a leader in the CRM sp... read more »
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