Highland snares $300 million for new VC fundJuly 16, 2013: 2:52 PM ET
Early-stage venture capital firm heading toward $400 million target.
FORTUNE -- Venture capital firm Highland Capital Partners has held a first close on around $300 million for its ninth fund, Fortune has learned.
The overall target is $400 million, as we previously reported. That's the same amount that Highland raised for its eighth fund back in 2009, although one big difference is that firm co-founders Bob Higgins and Paul Maeder aren't listed as general partners this time around.
Highland has offices on both coasts, and now mostly focuses on early-stage companies in the tech sector. Higgins had been healthcare-focused, while Maeder had led a stalled push into cleantech.
Its big recent this year was network traffic visibility company Gigamon (GIMO), whose stock is up nearly 60% since its June IPO, while hot portfolio companies include Aereo, Privalia and Leap Motion. It also helped incubate mobile payment startup Clinkle, although it didn't participate in that company's recent $25 million round.
Highland partner Sean Dalton declined to comment, citing SEC restrictions on fund marketing.
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