BOSTON, MA. -- March 17, 2008 – Flybridge Capital Partners, an early stage venture capital firm focused on investing in consumer, healthcare and information technology companies, launched today under a new name and announced the close of Flybridge Capital Partners III, L.P., a $280 million fund. The closing of Fund III brings the firm’s total capital under management to $560 million, including the IDG Ventures Atlantic I and IDG Ventures Atlantic II funds, which it will continue to manage.
Founded in 2001 as IDG Ventures Atlantic, the firm changed its name to Flybridge Capital Partners to better reflect its position as a broadly-focused, early-stage national fund with a diverse investor base.
“We are very pleased with the response we received from the investment community while raising the fund and have garnered the support of some of the most respected limited partners in the industry,” said Michael Greeley, a General Partner with Flybridge Capital Partners. “Despite being oversubscribed, we kept the size of the fund to $280 million to be consistent with our early-stage investment strategy. We are excited to embark on this next phase of our history and look forward to continuing our mission of investing in talented entrepreneurs who are building world-class companies.”
“Over the past seven years, the Flybridge team has done an exceptional job at building a firm that is well respected in the industry and is positioned to become one of the leading early-stage VC firms in the country,” said Dan Feder, Managing Director, Princeton University Investment Company. “We look forward to working with Flybridge as it continues to grow the firm under its new name.”
Flybridge Capital Partners is led by five general partners: David Aronoff, Jeff Bussgang, Michael Greeley, Chip Hazard and Jon Karlen. With over half a century of combined experience in venture capital, the team focuses on investing in early-stage, capital efficient businesses in the consumer, healthcare and information technology markets.
As part of the new fund, the firm expanded its investor base. Limited Partners include two of the top three Ivy League endowments, one of which is Princeton University, along with the Alfred I. duPont Testamentary Trust, AlpInvest Partners, FLAG Capital Management, Grove Street Advisors, HighVista Strategies, Knightsbridge Advisers, TrueBridge Capital Partners, and VenCap International.
About Flybridge Capital Partners
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies. With $560 million under management, the firm is focused on investing in consumer, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. For more information, visit www.flybridge.com.
Contact Info:
Kate Castle
Flybridge Capital Partners
617-534-1228
kate@flybridge.com