Edison Ventures has held the final close of its seventh fund at $249m.
Limited Partners in Edison Venture Fund VII include Advantus, certain funds managed by BlackRock Private Equity Partners, New Mexico Employee Retirement Board, Neuberger Berman, Ohio Capital Fund, Orix, Permal Capital, Phoenix Life and Sentry Insurance.
Consistently with previous funds, the firm is making initial investments of $5-10m in technology companies with $5-20m revenue run rate being normally the lead and first institutional investor in its portfolio companies.
Its focus is on Financial Technology, Healthcare IT, Interactive Marketing & eCommerce, and Enterprise 2.0, with an emphasis on Software as a Service (SaaS) and recurring revenue models.
Fund VII has already invested invested $55m in 10 portfolio companies including Andera, Motionsoft, PHX, NetProspex, Lifebooker, Salsa, MediaBrix, Ontuitive, Call Copy and Kemp.
Based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH, Edison is led by general partners Chris Sugden, John Martinson, Joe Allegra, Michael Balmuth and Gary Golding, and partners Michael Kopelman, Ross Martinson and Tom Vander Schaaff.
FinSMEs
28/02/2012