This top Silicon Valley venture firm just made a contrarian move with its newest fund – TechCrunch
In Silicon Valley, venture firms with a track record of success find themselves awash in money thanks to the growing number of institutions that want to invest more of their capital in tech. In March, an SEC filing showed that General Catalyst had closed a $1.375 billion fund , the biggest vehicle in its 18-year history. Battery Ventures also closed on two funds earlier this year that are the 35-year-old firm’s biggest to date. Sequoia Capital, meanwhile, is reportedly out raising $12 billion across a series of funds, a move that’s unprecedented for the firm — or any U.S.-based venture firm, for that matter. Fifteen-year-old Emergence Capital could easily follow the same path. Emergence funds early stage ventures that are focused on enterprise and SaaS applications, and it does this very well. Its bets include the storage company Box (now public), the social networking company Yammer (sold for $1.2 billion to Microsoft in 2012), and Veeva Systems, the company that’s generally k...