August 29, 2005
Granite Ventures Raises $350 Million Venture Capital Fund
Granite Ventures II Will Continue Investment Focus on Early-Stage Technology Companies
San Francisco, CA — August 29, 2005 — Granite Ventures has closed Granite Ventures II, a $350 million venture capital fund that will focus on investment opportunities in early-stage communications and software companies. Granite will continue the successful investment approach that the group has practiced for the last 13 years. The firm's total capital under management now exceeds $1 billion.
“The strong response we received from leading investors is a testament to the Granite Ventures team and network,” said Managing Director Standish O'Grady. “We look forward to investing in great entrepreneurs and helping them build leading technology companies.”
The Granite Ventures team has worked together for many years and has a combined 115 years of venture capital investing and technology industry experience. The team's diverse and complementary backgrounds give the firm a strong combination of investment, technology, entrepreneurial, operating, and transactional expertise.
About Granite Ventures
Granite Ventures, LLC is a leading early-stage technology venture capital firm with over $1 billion in capital under management. Granite Ventures began as the early-stage venture capital group at Hambrecht & Quist in 1992. The firm has been independent since July 1998. Granite Ventures has invested in more than 80 companies, including such industry leaders as Digimarc, DigitalThink, InfoGear, Internap, NetBoost, Nexabit, Siebel Systems, Sierra Wireless, SnapTrack, Tumbleweed Communications and Vignette. For more information on Granite Ventures, visit the firm's Web site at http://www.granitevc.com.
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