Wednesday, July 7, 2010

Venrock Raises $350M Fund

Palo Alto-based venture capital firm Venrock said this week that it has closed on a new, $350M venture capital fund, Venrock VI. The firm said the fund is focused on investments in early stage technology, healthcare and energy companies. The firm said its latest fund brings it to a total of $2.2 billion under management. Venrock is one of the oldest venture firms around--having been around for 40 years, originally as the venture capital arm of the Rockefeller family. The firm said its latest successful exits were PGP Corporation by Symantec and the IPOs of Alimera Sciences, AVEO Pharmaceuticals and Ironwood Pharmaceuticals. The firm is known for its investments in such firms as Intel and Apple Computer, among many others.