Highland Closes $400M Fund
Highland Capital Partners of Lexington, MA, said today that it has closed its eighth venture fund, the $400 million Highland Capital Partners VIII Limited Partnership. “We are pleased to raise a fund in this challenging environment,” Highland general partner Bob Higgins said in the firm’s announcement. PE Hub’s Dan Primack has a deeper look at the long-delayed closing of this fund, which is just half the size of Highland’s $800 million seventh fund, reflecting the recession-ravaged fortunes of the limited partners who back VC firms. Higgins told Primack that Highland anticipates making fewer and smaller investments from the new fund—but that it doesn’t expect to shrink its partnership (in fact, it’s considering hiring up to three new partners).