The Boulder, Colo.-based firm raised $75 million for its inaugural fund in 2000, which was partly backed by the U.S. Small Business Administration’s Small Business Investment Co. program.Vista Ventures earlier this year sold portfolio company Groople Inc., an Englewood, Colo.-based provider of Web-based group travel services, to Short’s Travel Management, which specializes in handling travel arrangements for the sports market. No financial terms were disclosed. Groople had raised more than $23 million in VC funding from Vista Ventures,
Last year, Vista Ventures saw another portfolio company get purchased when Hewlett-Packard Co. acquired Boulder, Colo.-based data-storage company LeftHand Networks Inc. for $360 million in cash. LeftHand Networks previously raised about $85 million in venture funding in several rounds from Vista,
Rho to test secondary market
The fund size of the vehicle is not known, but Rho, which raised a $510 million balanced stage fund in 2007, will primarily use the secondaries fund to make purchases of stakes in VC funds. Part of the fund will also back tech-oriented buyout funds.