VC Fundraising Scorecard: General Catalyst, Excel, OpenView, & More

1/4/12Follow @gthuang

[Updated 1/5/12] The first week of the new year is a good time to take stock of where venture capital firms are in their fundraising progress. No question that unless you’re a top-tier firm—and even then, in some cases—raising a sizeable new fund has been very challenging.

Back in August, I ran a summary of a few Boston-area VC firms that were in the process of raising new funds. Here’s an expanded update on how said firms are doing. Some of my info might be a tad stale, because VCs are not exactly transparent about their funds in progress. Nevertheless, here’s where things stand to the best of my knowledge. (Let me know if you have any new information, or if I forgot anyone.)

General Catalyst Partners has raised a $500 million sixth fund, according to a regulatory filing from last week. It’s not immediately clear if this fund is meant for investing in growth-stage deals as well as early-stage companies, or whether there will be a separate growth-stage fund (as was previously reported).

Summit Partners said this week it has closed a $520 million venture capital fund, to go along with a $2.7 billion growth equity fund. [This item was added on 1/5/12---Eds.]

Excel Venture Management is in the process of raising a $150 million second fund, according to documents filed last week.

OpenView Venture Partners raised $99 million out of an unspecified total fund size, as of last month. (See an interview with founder Scott Maxwell from last fall.)

.406 Ventures raised $95 million towards a target of $175 million for its second fund, as of late November.

Flagship Ventures closed $137 million out of a targeted $250 million for its fourth fund, as of November.

Kepha Partners closed $74 million out of a planned $100 million for its second fund, as of early last fall.

—And on the micro-VC front, ex-Polaris partner Mike Hirshland is looking to raise $25 million for his new fund, Resolute.vc.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @gthuang

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