We kept the fund the same size as our prior funds, so we can continue our strategy of investing selectively in capital-efficient, early stage companies and our commitment to being accessible and responsive board members
Menlo Park, Calif. (PRWEB) April 23, 2009
Trinity Ventures, an investor in early-stage information technology companies, today announced the closing of Trinity Ventures X. The fund was oversubscribed and was limited to $300 million in LP commitments, consistent with Trinity's three previous funds. Trinity X will invest in the software, IT infrastructure and services sectors. Target investment areas include business and consumer online services, virtualization and cloud computing, digital media and online advertising platforms, software as a service, energy efficiency solutions and mobile technology.
"We were pleased with the strong support from our investors, which enabled us to close our target amount on schedule, despite turmoil in the markets," said Fred Wang, general partner at Trinity Ventures. The fund is comprised primarily of commitments from returning investors, though it also includes a select number of new investors. "We see their support as a confirmation that we have a unique strategy that is appropriate to invest in these markets in these times."
"We kept the fund the same size as our prior funds, so we can continue our strategy of investing selectively in capital-efficient, early stage companies and our commitment to being accessible and responsive board members," stated Wang. The fund will invest between $2 million and $20 million in approximately 30 companies.
The Trinity team has worked together for many years. Trinity X will be managed by general partners Ajay Chopra, Noel Fenton, Tim McAdam, Patricia Nakache, Larry Orr, Gus Tai, and Fred Wang, principals Dan Scholnick and Jim Tybur, and CFO and administrative partner Kathy Murphy.
About Trinity Ventures
Founded in 1986, Trinity Ventures, a boutique firm, partners with passionate entrepreneurs to transform revolutionary ideas into reality. With over $1 billion under management, Trinity Ventures was founded on the principle of personal engagement and mutual respect with the entrepreneurs we fund. Trinity Ventures focuses on early stage technology ventures with a particular emphasis on digital media, Internet services, mobility, security and software markets.
Trinity Ventures has invested in more than 100 ventures, including such leading companies as Affinity Labs (acquired by Monster.com), Aruba Networks (NASDAQ: ARUN), Bix (acquired by Yahoo!: YHOO), Blue Nile (NASDAQ: NILE), Crescendo Communications (acquired by Cisco: CSCO), Extreme Networks (NASDAQ: EXTR), Forte Software (FRTE), IntruVert Networks (acquired by Network Associates: NWK), LoopNet (NASDAQ: LOOP), Modulus Video (acquired by Motorola: MOT), Network Alchemy (acquired by Nokia: NOK), Photobucket (acquired by News Corporation: NWS), SciQuest, Speedera Networks (acquired by Akamai Technologies: AKAM), Starbucks (NASDAQ: SBUX), Sygate Technologies (acquired by Symantec: SYMC) and Wall Data (NASDAQ: WALL).