Trinity Ventures, a Silicon Valley-based venture firm that has been around for 25 years, has closed its eleventh fund.
There have been rumors circulating about this latest round for over a week, but the firm has issued a confirmation this morning. The new fund was over-subscribed, but was capped at $325 million to allow for a higher partner-to-fund ratio.
According to Ajay Chopra, a general partner at Trinity Ventures, the fund-size has been kept deliberately modest in previous years.
“We can manage our portfolio companies and stay deeply engaged with early-stage companies.” In an effort to connect with the most talented young founders, the firm runs Dolores Labs, a co-working space in San Francisco’s Mission District.
The firm specializes in early-stage startups in the digital media and e-commerce, software-as-a-service (SaaS) and cloud services space. Chopra told me that the piping hot areas for the firm are SaaS solutions that are focussed on the front office, startups that are tackling the online to offline trend, mobile e-commerce, and consumer-focussed tablet applications.
Among their investments are Aruba Networks, Extreme Networks, Infoblox, Starbucks, Jamba Juice and Wall Data, which have all gone public.
In their more recent funds, the most promising investments include BeachMint, Care.com, Kixeye, Maxpoint, New Relic, RadiumOne, ServiceMax, and TubeMogul.
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