RRE Ventures Closes $230 million Fund

11/2/12Follow @cathyarnst

RRE Ventures, one of New York’s most prominent venture firms, reported on Thursday that it closed on its fifth round of funding with capital commitments of $230 million, just shy of the $250 million it was seeking.

RRE has raised more than $1 billion in commitments since it was started in 1994 by co-managing partners James Robinson IV and Stuart Ellman, with a focus on tech companies. Among its portfolio of startups is bookmarking service bitly.com and the news site Business Insider.

The firm said in a statement that the investors in this latest round, RRE V, come from the U.S., Europe, Asia, and the Middle East, and include a mix of organizations ranging from corporate funds to endowments to individual investors.

RRE V’s investment program is already underway with more than 12 core investments and a number of seed-program commitments already completed, the firm said.

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