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(In the calculator, this shows up as a side fund).
We've never had a side fund – this is our first experiment with it," Feld said in a statement about today's investment.
We've seen more and more opportunities, including with mature companies, and having a larger fund and also a side fund lets us compete.
Battery Ventures, an investment firm with offices in San Francisco, Menlo Park, Boston, and Herzliya, Israel, has raised $950 million across two new funds: a main fund, Battery Ventures XI, which is a $650 million pool, and a side fund that will support the company's larger investments, which closed with $300 million.
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They've just committed to invest a fresh $1.25 billion with the firm across two funds: Battery Ventures XII, a stage-agnostic vehicle with $800 million to invest; and a side-fund — Battery's seventh — which just closed with $450 million.
The firm previously similarly closed a $650 main fund and a $250 million side fund in 2013.
This time around, USV isn't raising a similar side fund.
As a result, some investors wonder whose side fund managers are on.
Roughly $2 billion worth of hard-to-trade assets are in a "side pocket" fund, which allows investors to redeem only 25% at a time.
(In other words, if Battery makes a bigger investment — say $50 million — the firm might write two checks totaling that amount from the main fund and its side fund).
He started the app as a side project, funding it out of Omidea, an angel investor fund he bootstraps himself, which also includes a couple of other projects, including a PM tool called Kontup and a forthcoming big data analysis tool called Docpivot, expected out next year.
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CEO of Professional Science Editing for Scientists @ prosciediting.com