PALO ALTO, Calif., Jul 06, 2010 (BUSINESS WIRE) -- Venrock, a premiere venture capital firm originally established as the venture arm of the Rockefeller family, today announced the closing of Venrock VI, a $350 million diversified venture capital fund focusing on investments in early stage technology, healthcare and energy companies. Consistently investing at the leading edge of technological innovation across investment sectors and through varying economic cycles, Venrock has delivered outstanding returns since its inception in 1969. In 2010, the firm continues to build on that legacy with multiple liquidity events, including the $325 million acquisition of PGP Corporation by Symantec, as well as three IPOs -- Alimera Sciences, AVEO Pharmaceuticals and Ironwood Pharmaceuticals. With the close of Venrock VI, the firm holds approximately $2.2 billion under management.
"The quality of Venrock's team is illustrated by their continued ability to work with great companies and produce returns in this difficult venture capital environment. It is a testament to the firm's efforts and success that the fund was oversubscribed, particularly when so many others are struggling to raise capital," said Geoff Love, Head of Venture Capital Investments at The Wellcome Trust. "The firm is stronger than ever, and we are pleased to be able to partner with Venrock again, embarking on our second decade alongside them."
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Author: Press Release
