Venrock Raises $350M Fund

Xconomy Boston — 

Venture capital firm Venrock, which has offices in Silicon Valley, Cambridge, MA, New York, and Israel, announced today it has closed a new $350 million fund that will be focused on early-stage technology, healthcare, and energy companies. This is the firm’s sixth venture fund, and it follows a $600 million fund raised in 2007. Venrock started in 1969 and was originally established as the venture-capital arm of the Rockefeller family. It has $2.2 billion under management and is known for its early investments in companies such as Intel, Apple, 3Com, Genetics Institute, Idec Pharmaceuticals, and Gilead Sciences. Its current investments include Boston-Power, Sapphire Energy, and Adify. Venrock has had a number of exits this year, including IPOs for Alimera Sciences, AVEO Pharmaceuticals, and Ironwood Pharmaceuticals, and the acquisition of PGP by Symantec.