IDG Ventures Atlantic, a Boston-based venture capital firm that once relied on the major publishing company IDG as its main source of financial backing, has changed its name.
It will now be called Flybridge Capital, to reflect the fact that it has a variety of investors, and that IDG is no longer the leading investor. The firm also announced today it has raised $280 million more for its third fund, to invest in early-stage companies in the consumer, healthcare and information technology industries.
The name-change of the firm, founded in 2001, will also help distinguish it from other venture firms carrying the IDG name — all of which affiliated with IDG is some way.
Limited partners include Princeton University, the Alfred I. duPont Testamentary Trust, AlpInvest Partners, FLAG Capital Management, Grove Street Advisors, HighVista Strategies, Knightsbridge Advisers, TrueBridge Capital Partners, and VenCap International.