RRE Ventures, one of New York’s most prominent venture firms, reported on Thursday that it closed on its fifth round of funding with capital commitments of $230 million, just shy of the $250 million it was seeking.
RRE has raised more than $1 billion in commitments since it was started in 1994 by co-managing partners James Robinson IV and Stuart Ellman, with a focus on tech companies. Among its portfolio of startups is bookmarking service bitly.com and the news site Business Insider.
The firm said in a statement that the investors in this latest round, RRE V, come from the U.S., Europe, Asia, and the Middle East, and include a mix of organizations ranging from corporate funds to endowments to individual investors.
RRE V’s investment program is already underway with more than 12 core investments and a number of seed-program commitments already completed, the firm said.
Author: Catherine Arnst
Catherine Arnst is an award- winning writer and editor specializing in science and medicine. Catherine was Senior Writer for medicine at BusinessWeek for 13 years, where she wrote numerous cover stories and wrote extensively for the magazine’s website, including contributing to two blogs. She followed a broad range of issues affecting medicine and health and held primary responsibility for covering the battle in Washington over health care reform. Catherine has also written for the Boston Globe, U.S. News & World Report and The Daily Beast, and was Director of Content Development for the health practice at Edelman Public Relations for two years. Prior to joining BusinessWeek she was the London-based European Science Correspondent for Reuters News Service. She won the 2004 Business Journalist of the Year award from London’s World Leadership Forum, and in 2003 was the first recipient of the ACE Reporter Award from the European School of Oncology for her five-year body of work on cancer. She holds a bachelor’s degree in journalism from Boston University.
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