Thursday, January 12, 2017
Correlation Ventures Raises $200M In New Investment Fund
Correlation Ventures, a venture capital investment firm with offices in San Diego, Palo Alto, and New York City, said this week that it has raised $200M in a new investment fund. The company said the second fund was oversubscribed, and brings its total assets under management to $366M. Limited partners in the new fund included endowments, pensions, funds of funds and family offices, according to the firm. Correlation's co-founders and Managing Directors are David Coats and Trevor Kienzle. The company's portfolio includes Virsto Software (acquired by VMware), InstaEDU (acquired by Chegg) and AirXpanders (IPO), and the firm says it has made investments in 121 companies total via its first fund, Correlation 1.