HRJ Capital raising new $300M fund of funds
Started at the height of the tech bubble by two former San Francisco 49ers, Harris Barton and Ronnie Lott, HRJ Capital didn’t seem a likely candidate to survive this long. Yet after struggling through its early years, the group is now launching its sixth fund.
HRJ is often called a fund of funds, because it invests in other venture funds. It counts some well-known names among its portfolio, including Accel Partners, Benchmark Capital, ComVentures and New Enterprise Associates.
Fund VI will be split, with about $175 million going to firms in the United States and $125 million headed overseas. However, much of the capital that stays at home will go toward firms that invest in overseas efforts.
The previous round, the $275 million Fund V, was opened earlier this year, and has a similar allocation. News via VentureWire.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.