Tuesday, February 9, 2010

Redpoint Closes $400M, Redpoint IV Fund

Menlo Park-based Redpoint Ventures has closed on a new venture capital fund, Redpoint IV, the firm said Monday evening. The firm said it will use the fund to invest in social and mobile Internet, cloud computing and clean technology companies. Redpoint said the new fund comes after the fund's entrepreneurs gained over $2B in liquidity over the last six months, including Fortinet's IPO, and acquisition of LifeSize, WiChorus, Networks in Motion, and Kazeon.