Californian IT investor Scale Venture Partners has closed its fourth VC fund on $300m.
The firm said it will continue its focus of investing in early-in-revenue technology companies in the cloud, mobile, SaaS and internet sectors.
Capital raised for ScaleVP IV means the firm has since its inception secured commitments of $1.5bn with a filing with the SEC showing the previous fund closed on $250m in early 2010.
Limited partners for the latest vehicle include pension funds, financial institutions, foundations, funds of funds and family offices, the firm said.
“We are deeply grateful for the support from our existing and new LPs who recognize the quality of our portfolio companies, our team-oriented culture and our focused investment approach,” said Kate Mitchell, partner at ScaleVP.
“We look forward to working closely with our limited partners, co-investors, and importantly, the entrepreneurs who are building the high-growth companies that are the lifeblood of the venture capital business.”
Previous investments include Box, DocuSign, HubSpot, ExactTarget, RingCentral and Omniture.
“Our focus at ScaleVP is on helping companies scale from first customers to mass adoption,” said Rory O’Driscoll, partner with ScaleVP. “We are seeing an inexorable trend in the adoption of cloud and mobile that is the driving force behind the revenue growth across our portfolio and the technology industry as a whole.”
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