Greycroft ups fund size

Greycroft Partners, the venture firm founded by Alan Patricof, has upped its inaugural fund size to $75 million, according to a regulatory filing.

The fund was set at nearly $55 million. But since then, Patricof has hired a partner in Los Angeles, Dana Settle (former veenture partner with Mayfield Fund) and Drew Lipsher (former head of a division of Universal Music Group) in New York. Greycroft makes early stage investments in the new media sector, including wireless, media and entertainment companies. Investmentl range from $500,000 to $3 million.

The firm backed five startups during 2006. It invested in political blog Huffington Post’s $5 million Series A with Softbank Capital in August; content indexing site for finding and sharing large video files Azureus’ $6.69 million Series A with Redpoint Ventures and BV Capital in November; outsourced IP phone system provider M5 Networks’ $7.75 million Series A with Milestone Venture Partners and Edison Venture Fund in September; sports social networking site Takkle’s $5 million Series A in July and November; music software company Pump Audio’s $2.5 million Series A with Village Ventures and High Peaks Ventures in April.

The firm also lists digital journalism site and instant messaging company Doppelganger as portfolio companies on its site, but investment details are unavailable.

Patricof is a legendary New York investor who made his mark in 1969 with Alan Patricof Associates. The firm was an early investor in Apple Computer, and in 1987 became the first U.S. venture shop to establish a European affiliate. In 1991, Patricof renamed the U.S. group Patricof & Co. Ventures, while calling his entire international effort Apax Partners. —Alexander Haislip