Thursday, September 5, 2013

Grotech Ventures Gets Top Ranking In Private Equity Report

Grotech Ventures, the venture capital investor which has been among the more active investors in the Rocky Mountain region over the last few years, has just had one of its funds ranked as one of the top venture capital funds in a private equity report. According to the 2013 Preqin Consistent Performers in Private Equity Report, Grotech's seventh fund, Grotech Partners VII, L.P., was ranked the second highest performing venture cpaital fund of its size. Grotech said Preqin's research pegged the fund's IRR to LPs at greater than 52 percent, with limited partner distributions to paid in capital of 176.6% and a multiple of 3x. Grotech has seen five exits from investments in that fund, worth a total of $260M. Grotech's investments in the region are managed by Joe Zell; the firm recently raised a new fund, Grotech Ventures II, worth $225M.