Fund Notes 04/11/05

Menlo Ventures last week announced it has closed its 10th fund with more than $1.2 billion in commitments. The fund was targeted at $1 billion. In a prepared release, the firm said its investment strategy would remain the same; the firm focuses on such industries as communications, software, Internet infrastructure, semiconductor and electronic storage. The firm will invest in seed rounds and later stage deals. Menlo Ventures ? founded in 1976 ? has nine managing directors: DuBose Montgomery, Douglas Carlisle, John Jarve, Sonja Hoel, Mark Siegel, Hal Calhoun, Arvind Purushotham, Pravin Vazirani and Shawn Carolan. Tom Bredt, a partner since 1986, is retiring from day-to-day management, but plans to continue as a venture advisor.Storm Ventures of Menlo Park, Calif., has raised $200 million for its third fund. Among its 44 LPs is the National Railroad Retirement Investment Trust, according to its regulatory filing.Sun Capital Partners Inc. of Boca Raton, Fla., has filed to raise $1.5 billion for its fourth buyouts fund. The firm raised $500 million for Sun Capital Partners III in 2003.StageOne Ventures of Tel Aviv, is raising its second fund with a $100 million target, according to Israeli press reports. The firm closed its first fund at $50 million in 2001.Advent International has raised $384 million for its third private equity fund focused on Central Europe. Limited partners included Teachers? Private Capital, AlpInvest and the European Bank for Reconstruction and Development.Odyssey Investment Partners has closed its third private equity fund with $750 million in limited partner commitments. The vehicle will pursue control investments and management buyout opportunities of mid-market companies in the industrial manufacturing, business services and financial services sectors.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