SOURCE: Blumberg Capital

Blumberg Capital

January 13, 2011 09:00 ET

Blumberg Capital Increases Early Stage Venture Fund to $90 Million

SAN FRANCISCO, CA--(Marketwire - January 13, 2011) - Blumberg Capital, a leading global early stage venture capital firm, today announced it has increased the total of its Blumberg Capital II, LP Fund to $90 million. The additional investment represents an increase of 37% of the initial capital raised. The majority of new investment in the Fund is from current limited partners, which represents a strong vote of confidence.

Blumberg Capital provides financing for early stage companies in digital and social media, software, mobile, and consumer Internet sectors. Blumberg Capital has the rare ability to identify and support young companies with disruptive technologies that also deliver superior returns. The Fund includes successful portfolio companies such as DoubleVerify, HootSuite, CarWoo!, and Nutanix.

"Blumberg Capital is more than a venture capital firm to us -- they are a true partner," said Oren Netzer, CEO and co-founder of DoubleVerify, the market leader in online media verification. "Blumberg Capital invested in us very early when we were only two founders, before we had a finished product or any customers. They helped us find clients and even made sales calls. They introduced us to all of our subsequent investors. Blumberg Capital has provided us with valuable advice at every stage."

Ryan Holmes, CEO and founder of HootSuite, the leading social media dashboard, stated, "The Blumberg Capital team adds real value through business development introductions, strategic advice and help on recruiting, financing and building our business. They truly engage as active, early stage investors."

"This new investment underscores that we are taking the right approach in sourcing, investing in and supporting innovative entrepreneurs launching disruptive technology products and services," said David J. Blumberg, founder and managing partner of Blumberg Capital. "We are proud of the successes of our entrepreneur founder/CEOs and very pleased with the high velocity growth generated by our portfolio companies. The recent cash injection from new and existing limited partners enables us to continue to actively deploy capital into exceptional new companies and support our stable of growing winners in the portfolio."

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