Exclusive: Highland Capital raises $400 million fundOctober 11, 2013: 2:14 PM ET
VC firm hits target for its ninth fund.
FORTUNE -- Venture capital firm Highland Capital Partners has secured $400 million in capital commitments for its ninth fund, Fortune has learned. That means that it has hit its target with institutional investors, and now is just rounding up some individual investors (mostly entrepreneurs) for a small sidecar fund.
This is the same amount that Highland raised for its eighth fund in 2009, but with three big differences:
- 1. Founding partners Bob Higgins and Paul Maeder aren't listed as general partners this time around.
- 2. Highland's European team is now investing out of their own, affiliated fund.
- 3. Without Higgins, Highland no longer has a general partner focused on life sciences investing.
Highland partner Sean Dalton declined to comment on the fundraising.
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