Viventures Travels For Second Vehicle

Marketing itself as a global venture capital firm just as comfortable investing in Bejing as it is in Silicon Valley, Viventures Partners recently closed its oversubscribed second fund last week at E630 million, or approximately $593 million. The fund-raising process had originally been launched with a E450 million target capitalization.

“The reason it went so well was because this was our second fund and that definitely helps,” said Christian Waldvogel, a partner with Viventures, “The [incentive-laden] contract was attractive in the first fund and therefore was attractive the second fund, and this worldwide structure that we have had from the start… seemed to be key as well.”

With the new fund, the firm brought on a geographically diverse syndicate from North America, Asia, India and Europe. Some of the participants included China Development Industrial Bank, Cisco Systems Inc., GE Capital Telecom, Goldman Sachs & Co., IBM Corp., Procter & Gamble Co., Qualcomm, Siemens Venture Capital, Singapore Power and VivendiNet.

Like its predecessor, the new fund will focus on telecommunications and Internet-related start-ups. It will put a bit more capital into Asia than Fund I, with 50% of its commitments going to European companies, 40% to U.S. firms and 10% to Asian companies.

Launched in September 1998, Viventures currently has offices in San Mateo, Calif., Paris and Singapore. It also plans to add German and UK locations within the coming months.

Dan Primack can be contacted at Story Feedback.