PRINT THIS PAGE Highland Consumer Fund closes on $300m11/07/2007. Source: AltAssets. 
 Venture capital firm Highland Capital Partners has closed its Highland Consumer Fund I, the firm's first fund focused exclusively on investment opportunities in consumer-facing enterprises, on $300m. Tom Stemberg, co-founder and former CEO of office supplies retailer Staples, and Ted Philip, former president, COO and CFO of internet portal Lycos, will lead the fund as managing general partners.
Stemberg joined Highland in early 2005. He said, 'Since the technology boom of the late 1990's, the consumer market has been underserved by the venture capital community. Through a focused approach and strategy, we look to address that opportunity immediately.'
Highland Consumer Fund I will operate out of Highland's Lexington, Massachusetts office.
Highland Capital Partners focuses on investing in companies operating in the communications, consumer, digital media, healthcare and IT sectors.
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