Trinity Finds Strong Interest for Fund IX

Trinity Ventures has closed its ninth fund with $300 million in limited partner commitments. The Menlo Park, Calif.-based firm began fund-raising in March with a $250 million target capitalization. All commitments were due in Q2, with the final close occurring earlier this month.

Larry Orr, a general partner with Trinity since 1989, says not to expect any changes in investment strategy. “We plan to keep making early stage, high-quality deals in the information technology and tech services sectors,” he explains.

The Fund IX general partnership has just two significant changes from when Trinity closed fund VIII. Tod Francis left in mid-2001 and co-founded Shasta Ventures after his e-commerce and consumer software focus fell out of favor, while Jaime Shennan has been essentially retired for several years. The firm also hired Paul Vabakos as a GP in mid-2001, but he left in late 2003 after Trinity cut the size of fund VIII. The current team includes Orr, Tom Cole, Noel Fenton, Tim McAdam, Kathy Murphy, Gus Tai and Fred Wang.