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May 08, 2024 | Tom Ballard

VC News | Three funds close raises totaling $320 million

The announcements come from Scout Ventures, Hyde Park Venture Partners, and Renegade Partners.

From Austin, TX:

Scout Ventures, a venture capital firm focused on frontier and dual-use technologies built by hard-to-access founders, has announced the successful closing of Fund IV at $94 million.

“We are humbled by the overwhelming support we’ve received for Fund IV,” said Brad Harrison, Managing Partner at Scout Ventures. “The continued trust from our existing investors, like the New Mexico State Investment Council, is invaluable. We’re also excited to welcome a distinguished group of new partners to the Scout family, including J.P. Morgan Asset Management, Vanderbilt University Endowment, USAA, and many others.”

In its news release announcing the close of Fund IV, Scout wrote that it focuses on the sectors where the team’s experience helps companies grow: Frontier Technologies (Artificial Intelligence & Data Science, Robotics, Drones, Autonomous Mobility, AR/VR, Advanced Materials, Physical and Cybersecurity, Quantum Computing, Space) and Enterprise SaaS.

From Chicago, IL:

An early stage venture capital firm headquartered in Chicago announced the close of its newest fund last week. Hyde Park Venture Partners (HPVP) completed the raise of a $98 million fund. It is the fourth fund HPVP has closed since its inception in 2012 and its first since 2019, when the firm closed $100 million for Fund III. HPVP also closed a $30 million 2021 Opportunity Fund.

The close of Fund IV brings HPVP’s total assets under management to approximately $320 million, including the $25 million 2012 Fund I, $65 million 2015 Fund II, $100 million 2019 Fund III, and $30 million 2021 Opportunity Fund.

“We continue to be wildly excited about working with skilled founders building important companies in the Midwest and Toronto. The sustained success of ShipBob, FourKites, G2, and many others in our portfolio have helped put our geography on the national startup stage,” said Allison Lechnir, HPVP Partner. “Fund IV will see us continue to back top founders with our direct capital, but also with introductions to the talent and later stage partners our portfolio companies need to grow.”

You can read the HPVP news release here.

From San Francisco, CA:

Renegade Partners, an early stage venture firm investing in transformative technology companies, has announced the close of its Fund II.

“We’ve secured $128 million in fresh capital from world-class Limited Partners to back another select group of extraordinary founders working on big, bold ideas. With this new fund, we’ll write checks of up to $10 million into 20 startups, mostly at the Series A,” wrote Co-Founders Renata Quintini and Roseanne Wincek.

They describe their true north as identifying a small number of exceptional founders with something to prove, then do whatever Renegade Partners can to help them turn their start-ups into wildly successful companies.

“We focus on the transformational phase just after product-market fit, when start-ups lay the foundation to reach escape velocity. It’s the time when the real magic happens,” the Co-Founders say.

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