Monday, April 7, 2008

Foundation Capital Closes $750M Fund, Sharpens Cleantech Focus

Menlo Park-based venture capital firm Foundation Capital said Monday that it has closed on a $750M venture capital fund, Foundation Capital VI, and also expanded its clean technology focus. Foundation said the new fund will allocate $250M to clean technology investments. As part of the new fund, Foundation Capital said it has added Ashmeet Sidana as General partner, Skip Glass as Operating Partners, and Mike Brown and Steve Vassallo as Principals. The new fund brings the company's total under management to $2.4B.