Bridgescale, a new venture capital firm focused on “expansion” stage investments into technology companies, said it is investing a $160 million fund, and has added another partner to help scout for investments.
Partners Robert Chaplinsky and Matthew Cowan opened their doors last year, but this is the first time they’ve announced the size of their fund.
They’ve also added James Joaquin, a former chief executive at Ofoto, as a “venture partner,” they told VentureBeat. A venture partner is someone who helps make investments but who does not have the full fund management responsibilities as a “general partner.”
Bridgescale looks to invest typically $5 million or $7 million in a fast-growing small company after it has already received a first round.
The team is considering investments across the board, from chips, to software, to Internet and green technology, they told VentureBeat in an interview last week.
The company wants to invest after other venture capitalist into companies, taking companies from their early stages through the middle stages of “expansion” — thus the name “bridge-scale.”
Separate, but interesting: Analyzing data between 2003 and 2006, the firm found that the top 25 early stage venture capital firms won 71 percent of the exit value among all deals — even when you exclude mega-IPO of Google. They accounted for 63 percent of the exits. That’s a large proportion, when you consider there are several hundred venture firms.
(First posted 1/21)
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