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Outlook Ventures Closes $140 Million Fund Venture firm launches new fund; continues investing in and actively building early stage software ventures San Francisco, CA, October 9, 2002 — Venture capital firm, Outlook Ventures (formerly iMinds Ventures) closed its latest fund, Outlook Ventures III, with $140 million. The fund will be actively invested in two dozen seed and early stage companies in the Western United States that provide software and software infrastructure. With Outlook Ventures III, the venture firm continues its strategy of being the first institutional investors in promising new ventures and providing the active support those companies need to build sustainable businesses. "We believe Outlook Ventures is well-positioned to capitalize on opportunities at a time when the venture market is favorable to investors" said Peter Laib of Adveq Management, an international investment group of financial institutions and pension plans. "The early stage that the firm focuses on is underserved by the private equity community today and their hands-on approach and depth of resources are attractive to entrepreneurs." Outlook Ventures is typically among the first institutional investors in sustainable software businesses, investing an average of $5 to $10 million over the life of the company. The firm works closely with the founding team to help build the company, participate in follow-on rounds and secure additional capital as necessary. This approach has been well-received and has proven valuable in helping to launch and accelerate the growth of companies such as Overture (N: OVTR), Impulse Networks (acquired by Inktomi — N: INKT), Kinecta (acquired by Stellent — N: STEL), and Soundview Technology (N: SNDV ). The firm has continued to actively invest with recent investments including nSite Software and NetBrowser Communications. The additional funds will enable the firm to continue uncovering promising investment opportunities and providing ongoing support of its portfolio. "We see an opportunity in the market perhaps even more attractive than when founded the firm in 1996," said managing partner, Randy Haykin. "There is a need for capital and hands-on assistance to support solid, early stage companies and these additional funds will allow us to capitalize on that need." Additionally, the funds will enable the firm to expand its team and continue investing in unique programs such as their CIO/CTO Council which provides access to CIOs of major corporations, including VISA, Cadence, The Gap, JP Morgan, PriceWaterhouse Coopers and eBay. Outlook Ventures manages funds totaling $225 million in committed capital. Investors in Outlook III include leading institutions from the US, Europe and Asia and strategically selected individuals. Located in San Francisco, Outlook Ventures is led by partners Randy Haykin, Carl Nichols, and Alan Fisher. The firm is in the process of expanding its team with additional partners and associates to add to the base of expertise it leverages. The team's growth will ensure the firm will continue to provide uniquely active support to its portfolio companies by limiting its commitment to no more than four board seats per partner. About Outlook Ventures Based in San Francisco, Outlook Ventures provides very early stage software ventures with capital and active support they need to create lasting value. The firm's partners apply their experience with over 100 startups and global corporations alongside depth of capital and operational resources, unique among very early stage firms, to helping these entrepreneurs turn their visions into results. As a result, since its founding in 1996, over 60% of Outlook Ventures' investments have resulted in either acquisition or IPO. Contact: |
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