Venture Capital: Monster venture firm continues to raise funds

"ROB MONSTER STIRRED the venture capital pot last summer when the entrepreneur turned angel investor launched Monster Venture Partners, saying at the time that venture capitalists deserved a "bad rap" for putting entrepreneurs in the "back corner."
Now, after a very active year in which Monster placed bets on more than 20 early-stage startup companies and hired two experienced partners, the former chief executive at Global Market Insite continues to push the envelope. And, at least in his view, the climate for early-stage investing is improving as entities such as Y Combinator change the way people think about financing new technology companies.
"We are seeing impressive companies being built for under $100,000," he says. "That is great news for angel investors and angel funds."
So what is next for Monster? Interestingly enough, despite the declining capital needs of some Internet startups, he's raising more money.
To date, Monster has backed the Bellevue firm with about $7 million of his personal funds. Now, he's looking to bring in $7 million to $10 million more from outside investors, with an institutional round of as much as $40 million possibly on tap for next year."