NEWS & EVENTS
Charles River Ventures closes its thirteenth fund at $285 million
Charles River Ventures closes its thirteenth fund at $285 million
CRP XIII to finance high-potential startups in consumer and business technology arenas
WALTHAM, Mass. and MENLO PARK, Calif. (April 2, 2007) – Charles River Ventures (CRV), one of the nation’s leading early-stage venture capital firms, today announced the closing of Charles River Partnership XIII, LP, a $285 million venture fund. The closing of CRP XIII brings the firm's total capital under management to approximately $2.1 billion. With this new fund, CRV will continue its focus on investing in the most promising new ventures in the technology marketplace.
“With CRP XIII, we will continue executing on the investing strategy that is yielding great results – for our investors, the entrepreneurs we back, and our firm. We are excited about our existing portfolio, including the recent IPO of Big Band and the merger of Celunol with Diversa Corp. We expect several more S-1 registration statements for public offerings from our portfolio over the next year,” said Bruce Sachs, general partner, Charles River Ventures. “We’re very enthusiastic about the new opportunities that lie ahead for us and look forward to using CRP XIII to support some of the smartest and most innovative entrepreneurs in the market.”
CRV’s current investing activities span software & services, media & entertainment, communications & technology, and data center infrastructure. The firm will use its new fund to continue its early-stage investing in these core segments. Since its inception in 1970, CRV has focused on finding the most talented entrepreneurs in its investing sectors and providing them with the financial capital, hands-on support, and proactive guidance required to build market-leading companies.
About Charles River Ventures Founded in 1970, Charles River Ventures is one of the nation’s oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 10 years, CRV funds have been ranked among the industry’s top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com.
