Blog Post

VC Fund Closings: Bay Partners, Highland, BIA Digital, Battery Ventures

Bay Partners Launch Facebook-Only Fund: Kinda crazy, but true: Bay Partners created a new funding program, AppFactory, for Facebook Platform developers. This is a fund focusing on investments of $25,000 to $250,000 with an expedited approval process. This is similar to Charles River Ventures’ QuickStart program, but as VCRatings says, the two seed programs will look at very similar startups since most consumer Internet companies would benefit from the attention that could be garnered from creating a popular Facebook application. By the way, what happened to the $100 million RSS investment fund? I rest my case.

BIA Digital Partners Closes Second Fund: Private equity firm BIA Digital Partners, which provides junior capital to middle-market media, cable and telecom companies, closed its second fund; BIA Digital Partners II LP. The fund closed with $65 million of capital commitments from limited partners, which combined with leverage equates a total fund size of $195 million. Some of the investments the fund already made include cable system operator Willamette Broadband, magazine publisher Hoffman media, employment services group United Metro Media, online video advertising provider EyeWonder and Trio Video, an event mobile production services.

Battery Ventures Closes $750 Million Fund: Battery Ventures has closed its eighth fund, BV VIII, at $750 million. Neeraj Agrawal, Michael Brown and Sunil Dhaliwal have all been promoted from Partner to General Partner in conjunction with this fund closing.

Highland Closes Fund: Highland Capital Partners has closed its $300 million Highland Consumer Fund I. It will focus on investment opportunities in consumer-facing enterprises.