US early stage venture firm Ignition Partners is seeking $250m for its latest fund.
According to the Wall Street Journal, which cites two “prospective limited partners”, the firm is in talks with investors over its fifth fund.
The Bellevue, Washington-based closed its fourth early stage venture fund, Ignition Ventures IV, on $400m in 2007.
At the time, it also launched its Ignition Growth Capital Fund, a $275m affiliate fund.
Back in November 2011, Ignition led a $40m Series D financing round for Cloudera, a provider of Apache Hadoop-based data management software and services.
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