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Closed fund to new investors several years later.
After all, it had just recently closed Fund I when an SEC filing dropped alerting us all that it was raising another $50 million for Fund II.
And New York based Female Founders Fund closed Fund II ($27 million) in May to continue investing in leading female-founded technology companies (Rent The Runway, Shine, Tala, and Zola are portfolio companies).
Instead of selling the whole business, it is selling the salesforce to Allied Dunbar and keeping the customers in its closed fund.
A closed fund has a fixed amount invested, say $10 million.
Charles Schwab's OneSource fund supermarket permits a departing customer to hand over shares of a closed fund to a new customer.
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Within 12 months we'd closed funding to grow.
But Calamos and Wasatch are among the fund families that have occasionally closed funds.
In addition, 151 early-stage firms closed funds – more than in the last dozen years.
California-based competitors Crowdstrike and Cylance both closed funding rounds in June, bringing in $200 and $120 million respectively.
Consider that in 2013, just 2percentt of female-founded tech companies in Europe closed funding rounds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com