HRJ Capital, a Woodside, Calif.-based firm that invests money into other venture capital firms is trying to finish raising $250 million for its latest fund.

It is called a “fund of funds,” because it is a fund that carries interest in multiple other funds.

Fund of funds have had a more difficult time lately, since top-ranked venture firm Sequoia Capital decided to shut access to such investors, likely because it believes they don’t add much value.

The latest news was carried by VentureWire (sub required). HRJ Capital is the new name for what used to be known as Champion Ventures, a group started by pro football players Ronnie Lott and Harris Barton. They launched the fund at the height of the boom, and lost money for quite a while because most investments went south shortly thereafter. However, largely due to its investments in Sequoia Capital, the group apparently managed to make a profit.

Now, according to the report, the firm is seeking access to international venture capital, by dividing into two funds, one earmarked at about $150 million for North American investments, the other at $100 million for international commitments.