August Capital Raising $550M For Sixth Venture Fund, “Sticking To What Works”
Rip Empson is a writer and rabble-rouser at TechCrunch. He covers startups, music, social, mobile, health, and education. You can reach him at rip[at]techcrunch[dot]com ? Learn More August Capital, the 17-year-old Sand Hill venture capital firm, is raising a new $550 million investment fund, according to documents filed this morning with the SEC. August Partner Howard Hartenbaum has since confirmed the firm’s raise, which is its sixth fund to date. It closed its previous, $650 million fund in March of 2009. The firm’s new raise consists of two funds: Its core fund, which the firm will use to continue investing in early-stage companies and its $250 million “Special Opportunities Fund,” which August will use for opportunistic investments, growth equity, some buyout — a mixed bag of investment types at the other end of the growth spectrum. A potpourri, if you will. All in all, don’t expect any drastic changes in style with August’s sixth fund — the firm isn’t suddenly going to take to v...