VC fund briefs, week of Oct. 22, 2007

Chevron fund raises $75M

Trond Unneland

, who joined Chevron Technology Ventures in August as managing executive, has wrapped his arms around his first fund. Chevron Corp. (NYSE: CVX) has committed $75 million to the fourth fund raised by its venture arm, as reported by Clean Technology Investor.

It is the energy company’s largest investment to date in its corporate venturing division. In 2002, Chevron committed $50 million for the previous fund of the San Ramon, Calif.-based investor. Unneland said that the fund will be equally split to invest in upstream and downstream oil and gas technologies, IT and cleanech or renewable energy.

In addition to making direct investments in cleantech, IT, oil and gas recovery and operations, Chevron Technology Ventures also invests as a limited partner in venture funds.

The group has backed funds managed by such investors as DFJ Element Venture Partners; EnerTech Capital; Nth Power; RockPort Capital Partners; Ampersand Ventures; APV Technology Partners; Arch Venture Partners; CMEA Ventures; Oxford Biosciences; and Vanguard Ventures.

Jafco closes third venture fund

Jafco Ventures

has closed its third fund with $150 million in capital commitments. The Palo Alto, Calif.-based firm focuses on early stage tech companies, and said that it expects to hire an additional general partner.

Voyager closes fund III

Voyager Capital

has closed its third fund with $107 million in capital commitments. Limited partners include Procific, Meyer Memorial Trust, Vanderbilt University and the Oregon Investment Fund.