Focus Ventures Closes $250 Million Fund; Oversubscribed Focus Ventures III will Build on Prior Funds' Successes by Financing Successful Expansion-Stage Companies.
"With the success of our prior funds -- Focus Ventures I, which was a top-quartile vintage 1997 fund, and Focus Ventures II, which closed in late 1999 and is on track for a similar result -- Focus Ventures III was oversubscribed and appealed to a wide range of investors," said Steve Bird, general partner of Focus Ventures. "Savvy investors appreciate our model. By investing in top-tier, expansion-stage companies funded by premier, early stage VC funds, we have kept our loss rate low and produced strong returns for our limited partners."
Bird reported that the 25 private, expansion-stage companies in Focus Ventures II are growing at an average rate of 70 percent annually. Among those portfolio companies are ClearCube, Crossbeam, Entropic Communications, EqualLogic, inCode Telecom, QuinStreet and Starent Networks. A number of Focus Ventures' companies have completed successful acquisitions in the last year. They include FrontBridge (acquired by Microsoft), G-Log (acquired by Oracle), NetScaler (acquired by Citrix), OuterBay (acquired by HP) and Wily (acquired by Computer Associates).
In addition to providing expansion-stage financing, Focus Ventures has helped a number of its portfolio companies establish lucrative agreements with companies in China, Japan, Korea and other Asian countries.
Said James Boettcher, general partner of Focus Ventures, "We have a strong record of helping companies from the West secure Asia-based business alliances that can make them more efficient and ultimately more profitable. Its been a 'win-win' strategy. Companies in China and elsewhere in Asia need outside partnerships to help get their products into foreign markets, and to obtain certain skill sets that may be more prevalent in the West."
Focus Ventures III is managed by general partners Steven Bird, George Bischof, James Boettcher and Kevin McQuillan, the same investment team that has guided the firm's previous fund.
About Focus Ventures
Focus Ventures is a top-performing venture capital firm that invests in expansion-stage leaders in the software, semiconductor and communications industries. The firm currently manages $825 million, having closed its first fund in October 1997, Focus Ventures II in December 1999 and Focus Ventures III in April 2006. Focus Ventures offers its portfolio companies access to high quality partners in Asia and an extensive network of resources focused specifically on driving top-line revenue growth through customer introductions and by establishing distribution channels, joint ventures and licensing arrangements. Since the firm's inception, Focus Ventures has invested in 89 companies, and has had 20 IPOs and 15 acquisitions by public companies. A select number of portfolio companies that have gone public include: Active Software, Agile Software, Alteon WebSystems, BroadBase Software, Chordiant Software, Commerce One, Copper Mountain Networks, Corio, CoSine Communications, Interwoven, Loudcloud, Niku, Pixelworks, and Verisity. For more information on Focus Ventures visit www.focusventures.com.
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|Comment:||Focus Ventures Closes $250 Million Fund; Oversubscribed Focus Ventures III will Build on Prior Funds' Successes by Financing Successful Expansion-Stage Companies.|
|Article Type:||Company overview|
|Date:||Apr 19, 2006|
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