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Home > PE News > By Type > Fund

US VC firm Highland closes fund on $400m less than predecessor US VC firm Highland closes fund on $400m less than predecessor

12 Nov 2009. Source: AltAssets
Massachusetts-based venture capital firm Highland Capital Partners has raised $400m for its eighth fund, Highland Capital Partners VIII.  The firm’s latest vehicle is less than half the size of it predecessor,  which closed on $808m in 2006, signalling the tough fundraising climate as limited partners face cash constraints.

The new fund will continue Highland’s strategy of seed, early and growth stage investments in companies in the communications, consumer, digital media, healthcare and IT markets.

Bob Higgins, general partner at Highland, said, “We are very appreciative for the continued backing of our limited partners.  We are pleased to raise a fund in this challenging environment that will allow us to continue to partner with the world’s best entrepreneurs and management teams in building high-growth and successful companies.”

Aside from the eight Highland Capital Partners funds raised by the firm, in 2007 the Highland Consumer Fund I collected $300m for investments in consumer-facing enterprises.

Copyright © 2009 AltAssets

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