The San Francisco-based firm previously disclosed in August that limited partners had committed $183 million to invest in Hummer Winblad Venture Partners VI, which was reportedly targeted at $200 million. LPs include J.P. Morgan Pooled Venture Capital Institutional Investors, Victorian Funds Management Corp. and Northrop Grumman Pension Master Trust.
Hummer Winblad has also disclosed two investments to date out of the new fund. The firm invested in billing software platform provider Aria Systems and hosting service Global Netoptex. In both cases, Hummer Winblad was the sole venture firm backer, investing alongside individuals, according to Thomson Financial (publisher of PE Week).
The firm last raised a much larger fund, Hummer Winblad Venture Partners V, in 2001, which totaled $424 million and made investments in 37 companies in the computer, communications and Internet sectors.
The firm has experienced some turnover in its limited partners, which Partner Mitchell Kertzman attributes to the firm’s poor performance during the dot-com era, when it was investing out of its $318 million fourth fund raised in 1999. That fund invested heavily in consumer Internet startups, such as Pets.com, HomeGrocer, Gazoontite and Mombo.
The firm has also had a few hits, such as Omniture, a developer of Web analytics technology for online businesses, which went public in June 2006. The stock has more than doubled since then. In September, Oracle Corp. purchased another Hummer Winblad portfolio company, Bridgestream, which develops human resource management software, for an undisclosed sum. —Joanna Glasner