Venrock Raises $350M Fund

7/6/10Follow @gthuang

Venture capital firm Venrock, which has offices in Silicon Valley, Cambridge, MA, New York, and Israel, announced today it has closed a new $350 million fund that will be focused on early-stage technology, healthcare, and energy companies. This is the firm’s sixth venture fund, and it follows a $600 million fund raised in 2007. Venrock started in 1969 and was originally established as the venture-capital arm of the Rockefeller family. It has $2.2 billion under management and is known for its early investments in companies such as Intel, Apple, 3Com, Genetics Institute, Idec Pharmaceuticals, and Gilead Sciences. Its current investments include Boston-Power, Sapphire Energy, and Adify. Venrock has had a number of exits this year, including IPOs for Alimera Sciences, AVEO Pharmaceuticals, and Ironwood Pharmaceuticals, and the acquisition of PGP by Symantec.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at Follow @gthuang

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