ATA Ventures Commences Third Fund, ATA Ventures III, L.P.
ATA Kicks Off Fund with Lead Investment in Clustrix, Inc., along with Co-Investors Sequoia Capital and U.S. Venture Partners
Redwood City, Calif. (PRWEB) March 27, 2009 -- ATA Ventures, a Redwood City venture capital firm focusing on early-stage private equity investments, today announced that it has formed ATA Ventures III, L.P., a new equity fund capitalized with an initial-closing amount of $86 million. With the creation of the fund, ATA Ventures continues to seek early stage investments in Information Technology (IT) companies that develop unique application solutions for enterprise, consumer, and industrial markets. The initial-closing amount of the new fund brings the total capital under management by the firm to approximately $450M.
"With the creation of our third fund, ATA is seeking opportunities to invest in technology-based solutions for vital consumer and business applications," said Hatch Graham, ATA's co-founder and managing director. Graham goes on to add that, "weakened economies historically create attractive opportunities for investing at reasonable prices without sacrificing the potential for exceptional investment-returns." Graham will be joined by Michio Fujimura, Michael Hodges, and T. Peter Thomas to manage ATA Ventures III, L.P. Together, the team has 120 years of industry experience.
Limited Partners investing in ATA Ventures III, L.P. are comprised of a variety of well-recognized foundations, endowments, pension funds, and fund of fund organizations - this includes existing investors that have participated in prior ATA funds, as well as new limited partners engaging with ATA for the first time. Furthermore, ATA has received additional limited partner capital commitments not included in this initial-closing; consequently, scheduling for a final closing is underway.
To kick-off ATA Ventures III, L.P., ATA has made its first investment in Clustrix, Inc., a San Francisco based startup. ATA led the company's Series B round and is joined by Sequoia Capital and U.S. Venture Partners. ATA's managing director, Hodges, will join the Clustrix board of directors and states, "Clustrix is building the next generation of highly scalable distributed infrastructure products ideal for serving the needs of rapidly expanding Internet applications, such as social networks and eCommerce merchandising."
About ATA Ventures - Founded in 2004, ATA Ventures ("a team approach") is a venture capital firm focused on seeking out early stage private companies, which appear to offer above-average prospects for capital growth. ATA Ventures will focus on Information Technology (IT), and intends to provide seed capital and early stages of financing to these companies. For more detailed information, visit us on the web at www.ataventures.com.
Contact: Sheila Davis, ATA Ventures
650-622-3536
sdavis (at) ataventures (dot) com
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