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Flag Capital seeks $175m for new venture fund of funds

27 Mar 2014

dollar large_sqInvestment firm Flag Capital is seeking $175m for its new venture capital fund of funds vehicle, according to a document filed with US securities regulators.

Flag Venture Partners IX does not have a placement agent and has yet to register its first commitment, the filing showed.

Last October AltAssets reported that the firm’s previous venture fund of funds, Flag Venture Partners VIII, had received commitments of $177.3m from 84 investors.

Its fifth private equity fund of funds had commitments of $217.3m from 53 LPs at that time.

Last month co-founder of Flag Capital and co-head of its venture capital programme Diana Frazier retired from the firm.

Other fund of funds vehicles currently in the market include Strategic Investment Group’s $250m targeting fund, which has raised at least $150m.

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