Continues Investment Focus on Growth Stage Companies
Updata Partners, a leading, growth stage venture capital firm investing in the information technology industry, recently announced the final close of its fourth fund, Updata Partners IV L.P., at $223,218,830. With over-subscribed commitments on the fund’s $200 million objective, the firm will continue its focus on investing in rapidly growing, market-leading software and software-enabled technology companies.
Updata Partners has invested over $170 million in more than 40 companies since the firm’s inception in 1998. The closing of Fund IV brings Updata Partners’ total funds under management to well in excess of $400 million.
“We are very enthusiastic about market conditions and opportunities in our target sectors over the next several years,” said John Burton, Managing General Partner at Updata Partners.
Coincident with the funding, Updata Partners also announced the promotion of Rich Erickson to General Partner and Carter Griffin to Partner.
