Flybridge Capital raising new fund
February 7, 2012: 11:47 AM ET
Early-stage venture firm raising $200 million.
Flybridge Capital Partners is out raising $200 million for a new fund, Fortune has learned.
The vehicle technically is listed as Flybridge Capital Partners IV, but really is the Boston-based firm's second independent fund since spinning out from media publishing company International Data Group in early 2008 (where it had been known as IDG Ventures Boston). Its two prior vehicles had been solely funded by IDG, while Fund III investors included Princeton University, Alfred DuPont Testamentary Trust, AlpInvest Partners, Flag Capital Management, Grove Street Advisors, HighVista Strategies, Knightsbridge Advisors, TrueBridge Capital Partners and VenCap.
Flybridge focuses on early-stage investments in the tech sector, which includes IT, consumer tech, medical tech and energy tech. Recent investments include ZestCash, ClickSquared and DataXu.
The firm declined to comment on its fundraising, due to SEC marketing restrictions. Flybridge's general partners are David Aranoff, Jeff Bussgang, Chip Hazard, Jon Karlen and Michael Greeley.
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