Monday, March 12, 2007

Commonwealth Capital Ventures Closes Fund IV at $250 Million

"Commonwealth Capital Ventures (Commonwealth) today announced it has closed its fourth fund, Commonwealth Capital Ventures IV (Commonwealth IV). The $250 million fund is primarily targeted at early-stage and venture growth technology investments. With commitments well in excess of its $200 million target, Commonwealth chose to cap the fund at $250 million to maintain the firm’s successful business model while creating opportunities for several new limited partners with strong venture programs. The addition of this new fund brings Commonwealth's total capital and commitments under management to $580 million. Commonwealth IV follows the $177 million Commonwealth III Fund, which closed in October 2000.
“Commonwealth Capital has built a great portfolio of successful companies and an outstanding team of highly-respected general partners,” said Phil Rotner, Managing Director of Private Equity Investments at MIT, an investor in Commonwealth IV and the firm’s two previous funds. “The team’s collaborative style and patient company-building philosophy has attracted talented entrepreneurs. We are confident that the firm will continue to source excellent opportunities.”
Commonwealth will continue to focus on investments in companies operating in the software and services, communications technology, and analytic and diagnostic instrumentation sectors in the Northeastern United States. Initial investments will typically range from $3 to $5 million, with up to $10 million or more invested per company over multiple rounds. "

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