Dan Primack

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Benchmark Capital raising new fund

January 13, 2011: 4:59 PM ET

Benchmark Capital is raising up to $505 million for its seventh fund, according to a pair of regulatory filings. The vehicle is split into a $425 million general fund and an $80 million "founders fund," which I'd assume will be made up of past and present portfolio company founders.

The Silicon Valley venture firm lists seven partners on its filings, but does not include firm co-founder Bob Kagle or partner Alex Balkanski. I've put in a call to the firm to learn what, if anything, the omissions mean. If it turns out that Kagle is stepping back, he would be the second of the firm's founding quartet to do so (Andy Rachleff is listed on the firm's website as an "alumni partner").

Benchmark closed its sixth fund in 2008 with $500 million. Recent investments include Zendesk, Quora and GrubHub.

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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