VC fund briefs, week of Oct. 27, 2008

OpenView nears $125M target

OpenView Venture Partners has secured $118 million in capital commitments for its second fund, according to a regulatory filing. The filing indicates a target of $125 million.

The Boston-based firm raised $100 million for its debut fund in 2006. The expansion stage firm focuses on high-growth software, internet and technology-enabled companies.

It was formed by Senior Managing Director Scott Maxwell, who previously was managing director at Insight Venture Partners.

BlackBerry Partners launches financing program

The BlackBerry Partners Fund, a $150 million VC vehicle, has launched its “Jump Start Financing Initiative.” The effort will provide capital infusions of up to $250,000 in the form of convertible debentures.

The fund, which invests in applications and services for the BlackBerry platform and other mobile devices, is co-managed by JLA Ventures and RBC Venture Partners.

The fund has invested in Poynt, a developer of a local search tool; Strands, a developer of a music player; and Nobex Technologies, which provides radio music information. Each of the companies has received a $150,000 investment from the BlackBerry Fund.

Separately, the BlackBerry Fund announced that Marc Faucher and Matt Golden have joined its investment team. Faucher previously was with Summerhill Venture Partners, while Golden part of the founding team at Tira Wireless.

Keytone raises $104M

Keytone Ventures has secured $104 million in capital commitments for its debut fund, according to a regulatory filing. The firm was founded earlier this year by Joe Zhou. Zhou, considered one of the most active VCs in China, previously led Chinese investment activities for Kleiner Perkins Caufield & Byers and, before that, was a partner with SAIF Partners.

Keytone focuses on cleantech, technology, media and consumer sectors.

Zhou is joined at Keytone by Vice President Eric Tao, who previously was an associate at Kleiner Perkins, and Partner “Stella” Xi Jin, who previously was a venture partner at IDGVC Partners, according to LinkedIn.com.

Easton targets $200M

Easton Capital Investment Group, a New York-based venture capital firm, is targeting $200 million for its fourth fund, according to VentureWire.

The New York-based firm manages about $200 million in funds, according to its website, including a $47 million venture fund raised in 2006.