In 2001, Rupert Montagu and Ashton Newhall set out to raise a $25 million fund-of-funds. The firm, aptly named Montagu Newhall, ended up with $52 million. The extra capital the firm garnered is easier to explain than one might initially think. Ashton Newhall is the son of New Enterprise Associates (NEA) founder Charles Newhall. Individual investors the firm counts among its LPs are NEA’s Richard Kramlich and Accel Partners’ James Swartz.
Now with a proven track record of its own, Montagu Newhall is starting to raise its second fund with the more ambitious goal of $50 million. The firm plans to close on about $25 million of new capital by September.
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