Wednesday, August 03, 2005

News - Mission Ventures Announces $210 Million Venture Capital Fund

Mission Ventures Announces $210 Million Venture Capital Fund

"Mission Ventures, an early-stage venture capital firm, announced that Mission Ventures III, a $210 million fund, closed on July 25, 2005. Founded in 1997, Mission Ventures manages over $500 million of capital across its three funds.

Mission Ventures III, like its predecessor funds, will invest primarily in early-stage information technology and technology-driven services companies in Southern California. Mission Ventures will continue to leverage its local presence advantage to exploit the exceptionally attractive investment characteristics of the region. The firm will continue to forge and build on constructive, trusting relationships with local high-quality entrepreneurs, investors, service providers and organizations that are able to add value to investment opportunities.

The managing partners of Mission Ventures III are Ted Alexander, Robert F. Kibble, David J. Ryan, and Leo S. Spiegel. Consistent with the prior fund, the partnership plans to make approximately 25 investments ranging from $3 million to $10 million, with a focus on early-stage opportunities.

"Southern California is fertile ground for investing in leading early-stage Information Technology companies," said Dave Ryan, Managing Partner of Mission Ventures. "We see attractive opportunities across the IT spectrum of communications, wireless, infrastructure, software and technology-driven services.""

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