Scale VP Raises First Independent Fund

Scale Venture Partners (f.k.a. BA Venture Partners) has closed its latest fund with $400 million. It is the first fund since Scale spun out of Bank of America as an independent entity, and received limited partner commitments from such institutions as Credit Suisse, Key Capital, Lexington Partners, Liberty Mutual, Macquarie Global Private Equity Fund, Montague Newhall, Pantheon Ventures, Paul Capital Partners and Storebrand. Probitas Partners served as placement agent. Bank of America sold its initial cornerstone fund commitment as part of the transaction, but will retain its sole LP status on Scale’s $500 million predecessor fund.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />