Bank of America cuts loose venture arm

Mar 8, 2007 @ 1:43 pm

By Sam Lewis

Scale Venture Partners, formerly Bank of America’s venture arm BA Venture Partners, has announced that it has completed a final close on Scale Venture Partners II, a $400 million fund.

Bank of America, an original limited partner based in Charlotte, North Carolina, agreed to transfer its interest in Fund II due to a high demand from outside investors, allowing Scale Venture Partners to build a portfolio of twelve long-term limited partners.

These include Credit Suisse of New York; Key Capital Corp. of Cleveland, Ohio; Lexington Partners of New York; Liberty Mutual Insurance Company of Boston, Mass.; Macquarie Global Private Equity Fund of New South Wales, Australia; Montague Newhall Associates of Calif.; Pantheon Ventures of London and its affiliates; Paul Capital Partners of San Francisco, Calif.; Storebrand of Oslo, Norway and several others.

Bank of America continues to be the sole limited partner for Scale Venture Partners I, a $500 million fund based in Foster City, Calif.

Probitas Partners of San Francisco, Calif., served as placement agent for the fund.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Strict deadlines require close attention when signing up for Medicare

Assistant managing editor Susan Kelly discusses the ins and outs of enrolling in this health-care benefit for retirees, as well as the consequences of not meeting certain dates when doing so.

Latest news & opinion

9 biggest donations to universities

Here are some of the largest donations ever made to universities by private donors.

Worst day of an awful year leaves no part of market unscathed

Stocks, oil and corporate bonds all plunged, while safe havens like Treasuries and gold stood still.

As it works to pull off a merger, FS Investments admits shortcomings

Management makes public statements about weaknesses at company's funds.

Q&A with Abigail Johnson and Kathleen Murphy of Fidelity Investments

The Fidelity CEO, along with the president of personal investing, discuss record earnings, allegations of sexual misconduct and the challenges facing a changing industry.

Fight for New Jersey fiduciary rule yields doomsday rhetoric from both sides

Stakeholders warned of a 'crisis' and 'decimation of our financial system' at a public meeting held by the New Jersey Bureau of Securities.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print