US venture capital veteran Charles River raises $393m for Fund XVI


river-canyonOne of the oldest early-stage investment firms in the US has pulled in $393m for its sixteenth fund.

Charles River Ventures is believed to have held a final close on the amount, which was revealed in a filing with the US securities regulator.

A total of 48 LPs have backed Charles River Partnership XVI to date, the filing shows.

The news looks to complete a swift return to fundraising for Charles River, which only closed its heavily-oversubscribed last fund in February 2012.

That vehicle collected $375m to target early-stage technology companies within the mobile, Internet and software segments as well as emerging companies focused on energy and intellectual property.

Last October a trio of venture capital firms including Charles River backed a $10m financing round for Refresh, a mobile app which provides an instant information dossier on people.

Redpoint Ventures and Foundation Capital also took part in the round for the 18-month-old company.

The app aims to help give users bullet point data to use in conversations with their target person, such as their hobbies, friendships and recent blog posts.

Copyright ©2014 AltAssets

Copyright ©2014 AltAssets