New Ventures Partners announced Tuesday that it had closed the NV Partners IV LP fund at $275 million, exceeding the $200 million original target set for the fund.
NV Partner’s IV is the first broad institutional fund for New Ventures, including investors from both the US and Europe in pension funds, funds of funds, endowments and financial services institutions.
With more than 35 venture spin-out ventures under its belt, New Ventures says the new fund focuses primarily on global corporate technology firms to commercialize innovations through the formation and funding of spin-outs.