Trinity Ventures, which invests in early-stage information technology companies, has closed its tenth fund with $300 million. Demand was strong and the fund turned away some investors, according to a press release, so the new fund - Trinity Ventures X - would be the same size as Trinity's other funds. Trinity Ventures X will focus primarily on companies in the areas of digital media, online advertising, cloud computing, virtualization, and online services. (via PEHub)
Trinity said it limited the fund to $300 million so it could continue to focus on early-stage, smaller bets and avoid feeling the pressure to invest in many deals like some larger funds do. The fund targets about 30 investments a year in the range of $2 million to $20 million. Portfolio companies include 24/7 Real Media, mSpot, PlayFirst, and TubeMogul among others.
The announcement follows the closing of a $240 million fund by BlueRun Ventures yesterday - $60 million short of its $300 million goal. BlueRun was an early investor in PayPal and currently holds stakes in Slide, Zivity, and Vollee.
By Rory Maher