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Vector Capital IV closes on $1.2bn18/07/2007. Source: AltAssets. 
 Vector Capital has closed its latest fund, Vector Capital IV, on $1.2bn. The new fund invests in buy-outs, spin-outs and recapitalisations of established technology companies, and is also expected to acquire long-term stakes in undervalued public companies.
Vector has a particular focus on software, online services, communications equipment and security products. The firm plans to pursue a more significant number of larger transactions in the future.
The majority of capital in Vector IV was committed by existing Vector investors, the firm announced. New investors include the Harvard Management Company.
Vector now has approximately $2bn of capital under management. The firm expects to expand its team as a result of the latest fundraising.
It recently acquired SafeNet, a buy-out valued at $634m. Other past investments have included the buy-outs of Register.com and Watchguard Technologies, the spin-outs of LANDesk Software from Intel Corporation and Savi Technology from Raytheon Corporation, and the successful turnaround of Corel Corporation, which Vector took private in 2003 and then public again in 2006.
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