Fund Notes 03/21/05

Siemens Mobile Acceleration has changed its name to Siemens Acceleration in Communications , to better reflect a new investment mandate that expands beyond early stage wireless companies. The firm – the corporate development arm of German conglomerate Siemens – will invest in all types of communications startups, and plans to commit $100 million over the next five years. Currently, the group has 25 employees, including nine in Germany, nine in China and four in San Jose, Calif. As it moves beyond investing strictly in mobile technologies to invest in all communications technologies, including VoIP, the digital home, and wireline, it is looking to add people to its staff, particularly in California.

August Capital of Menlo Park, Calif., raised $283 million for its fourth fund.

Levensohn Venture Partners of San Francisco raised an additional $13.5 million from nine accredited investors for LVP III. This brings the total amount raised to nearly $60 million, as of its most recent regulatory filing In January 2004, the firm reported that it had raised about $42 million.

Weston Presidio has received more than $819 million in limited partner commitments for its fifth fund, according to a regulatory filing. The San Francisco-based private equity firm is looking for upwards of $1 billion.

San Francisco-based Vector Capital has closed its third venture capital fund with $337 million in limited partner commitments, according to a regulatory filing. The firm originally had been seeking $250 million, and held a $176.5 million first close last May, with commitments from such groups as First Plaza Group Trust, Stichting Pensionenfunds AB and ZAM Holdings LP.

Index Ventures of Switzerland has closed its fourth fund with $400 million in commitments. Limited partners include Adams Street Partners, AlpInvest Partners, BP Pension Fund, Horsley Bridge, HarbourVest Partners, LGT Capital Partners, Partners Group and Schroders .

Flexpoint Partners has launched as a Chicago-based private equity firm focused on the health care and financial services market. Each of the co-founders – Donald Edwards, Ethan Budin and Charles Glew – at one time served as principals with buyout firm GTCR Golder-Rauner.

The Blackstone Group is looking to raise $10 billion for its next fund, rather than the $8 billion to $9 billion that had been previously reported.

ABRY Partners has closed its fifth buyout fund with $900 million in commitments.

Crescent Capital of Northern Ireland has filed to raise $26 million from limited partners for Crescent Capital II. The list of investors includes Invest Northern Ireland, Northern Ireland Local Government Officers Superannuation Committee, Queens University Belfast, UUTECH Ltd. and Moyne Secretariat Ltd. The fund is focused on investing in earlier stage companies specializing in the technology sector within Northern Ireland.

The information in Fund Notes is compiled by PE Week staff from press releases, news articles and other sources. Some of the briefs are derived from filings with the Securities and Exchange Commission, and are only as current as the filings themselves. The listings are not an advertisement for the sale of securities