A bright spot in VC land

1 response

  1. anon says:

    The details on it are that it’s $150mm in a first closing with a potential of another $25 in a second closing.

    BCE is in for $50mm, but it’s a bit complicated. BCE rolled their existing portfolio into the new fund based on a FMV done at time of closing. They was a one time draw from the new LPs to BCE to buy the LPs interest in the existing portfolio. What the value of the existing portfolio was at time of closing I don’t know. So I don’t know how much is left to be drawn on the ‘committed’ capital. Based on the 12 companies they list on their website, it is likely in the 10s of millions.

    Also, yes, all the LPs except BCE are US.

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