Foundation Capital closes $525 million venture capital

MENLO PARK, Calif. /PRNewswire/ -- Foundation Capital, a venture capital firm committed to supporting entrepreneurs in their quest to create and build successful companies, today announced it has closed a $525 million fund, Foundation Capital Fund V. Participating in the fund are two new limited partners, the Stanford Endowment and Purdue University, as well as an existing base of limited partners that included foundations, pension plans, and diversified fund-of-fund investors, and a group of endowments that already include universities like Harvard, Yale and CalTech.

"For more than 10 years, Foundation Capital has established itself as an outstanding venture capital firm, and embodies the entrepreneurial spirit, leading to meaningful projects and interactions with Stanford on many levels," said Georganne Perkins, director of private equity, Stanford University. "This fifth fund is a testament to Foundation Capital's success and we are pleased to introduce a new dimension to our relationship."

"Some of our major successes have resulted from our relationship with Stanford," said Adam Grosser, general partner, Foundation Capital. "Most notably, Atheros, now a leading public wireless chip company, and Peribit, which was acquired last summer by Juniper Networks for $380 million. Both companies started as seed investments that were introduced to us by Stanford, and were incubated in our offices before going on to today's success."

Composed of former operational executives with entrepreneurial experience, Foundation Capital's partners held top roles at companies including Asera, Cadence, Clarify, Excite@Home, Kana Communications, Netscape, Oracle, Prism Solutions, Pure Software and SGI. The firm's general partners include Bill Elmore, Adam Grosser, Paul Holland, Paul Koontz, Mike Schuh, and Warren Weiss and its partner emeriti include founding partners, Jim Anderson and Kathryn Gould.

Foundation Capital's Fund V welcomed new limited partners, the Stanford Endowment and Purdue University. Most of Foundation Capital's existing limited partners participated in Fund V.

About Foundation Capital

Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in telecommunications and networking; Internet infrastructure; and enterprise software and on demand services. Foundation Capital funds total more than $1.6 billion.

More information:

http://www.foundationcapital.com

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