Tuesday, April 15, 2008

FTVentures Raises $512M Fund

San Francisco- and New York-based FTVentures, a venture capital investment firm, said today that it has closed a $512M fund, FTV III. FTVentures said the new fund will be invested in software and business services companies. The new fund brings the company's total under management to over $1B in committed capital. FTVentures said that new LPs in the firm included Liberty Mutual, Skandia Insurance, Nordea, PartnerRe, Capital One, Fannie Mae and Barclays Global Investors. Other new LPs include New York City Retirement Systems, RHM Group, New York State Common Retirement Fund and Kamehameha Schools. The firm's other, existing Limited Partners include AIG, AXA, Bank of America, Barclays Global Investors, BNP Paribas, Capital One, Charles Schwab, CIBC, Citigroup, Comerica, Credit Suisse, DBS, Deutsche Bank, Fannie Mae, Fidelity National Financial, Fifth Third Bank, First Republic Bank, Freddie Mac, GE Capital, Goldman Sachs Asset Management, The Hartford, HSBC, ING, JPMorgan Chase, KeyCorp, Lehman Brothers, Liberty Mutual, Lloyds TSB, Morningstar, National City, Nomura, Nordea, PartnerRe, People’s United Bank, PNC Bank, RBC Royal Bank, Sallie Mae, SEB, Skandia Insurance, Standard Chartered, Travelers, SunTrust, SVB Financial Group, USBancorp, Visa, Wachovia, Washington Mutual, Wells Fargo and Zions Bancorporation.