Fernandez was one of three partners at the firm, which had a debut fund-raising target of $150 million. WIth two partners remaining—Michael Burns and Eric Rothfus—Guggenheim will likely raise under $100 million.
Guggenheim is now using Moravia Capital as an outside placement agent rather than Guggenheim’s in-house team, and also has added “re-start technology companies” to its focus area.
DFJ closes growth fund
Draper Fisher Jurvetson
The fund will focus on “large opportunity” growth stage private tech companies that have completed the initial development stage and are generating revenue.
The fund has already invested in such companies as Visto, a provider of enterprise mobile email applications; Raydiance, creator of a desktop ultra-short pulse laser; UUSEE, China’s leading provider of IPTV networks; Kajeet, a mobile phone service for young people; and Solar City, a provider of residential solar energy solutions in California.
The fund’s team is led by former AOL Chairman and CEO Barry Schuler; venture capitalist and former Symantec and Healtheon WebMD executive Mark Bailey; and DFJ Managing Director John Fisher.
The growth team also includes Director Randy Glein, a DFJ veteran who was previously at Hughes New Ventures and Tribune Ventures; Associate Dan Groen, formerly of TA Associates; and Associate Benjamin Stingle, also a DFJ veteran.
Syncom cinches fund V
Sequel to delay fund IV
Sequel Venture Partners
of Boulder, Colo., has decided to delay raising its fourth fund, according to VentureWire. Sequel Partner Tim Connor said: “The feedback we heard is ‘you’re doing great, we like the team, we like the strategy, we just want to see some more realizations.’”