SOFTBANK Capital Partners has raised $170 million of a proposed $250 million third fund, according to a regulatory filing.
SOFTBANK Capital Technology Fund III counts GKM Newport/NY Venture Capital Fund, SOFTBANK Broadband Investments and SB Asia Pacific Investments Limited among its limited partners.
The firm is run by Managing Partners Ronald Fisher and Eric Hippeau; Partners Craig Coomper and Steven Murray; and Venture Partners Michael Perlis and Frederick Singer.
The firm’s most resent investment was in the news blog site Huffington Post, which raised $5 million from investors two weeks ago. SOFTBANK Capital has also backed Beliefnet, a multi-faith religious Internet portal; Associated Content, a startup that serves as a clearing house of user-generated writing; and Insider Pages, which combines social networking with search to help people find local businesses.
It is little wonder the firm is focused on investing in content, applications and technology-based services. The partners of SOFTBANK Capital, based in Newton Center, Mass., have a rich history in publishing and content. Hippeau was CEO of Ziff-Davis, a company that boasts 32 websites and seven magazines, from 1993 to 2000. Cooper co-founded Boost Mobile, a company that branded wireless services and content. Singer came to SoftBank Capital from America Online and helped The Washington Post launch its Internet site before that.
The partners will collect a 2.5% management fee, according to the filing. —Alexander Haislip