M/C Ventures raises $550M

M/C Venture Partners, a venture firm that focuses on communications services, information technology and new media, has raised $550 million for its sixth fund, according to a regulatory filing last week.

The fund, M/C Venture Partners VI, is just as large as fund V, which was raised in 2000 and which produced a 7.4% return, according to data from the California Public Employees’ Retirement System.

M/C, based in Boston, counts Yale University Investments, the California State Teachers Employees’ Retirement System, Montagu Newhall Global Partners and the Pennsylvania State employees Retirement System among the limited partners in its previous funds.

The firm took Brazilian company Horizon Telecom International (BOVESPA:VVAX11) public in February and sold ICG Communications to Level 3 Communications (Nasdaq: LVLT) for $170 million in cash and stock in April. —Alexander Haislip