Press Release
Opus Capital Raises $280 Million Fund,
Bringing Total Committed Capital Under Management to Over $1 Billion
MENLO PARK, CA. June 6, 2006—Opus Capital today announced it has closed its new fund with over $280 million in commitments. The target size for the fund was $250 million, with an initial closing in April and its second and final closing in May.
Together with previous Weiss Peck & Greer Venture Partners (WPGVP) Funds now under Opus Capital management, this fund brings total committed capital under management to more than $1 billion.
The partnership, whose members have been involved in more than 50 IPOs and 35 mergers in the course of 20 years, will invest in committed, high integrity entrepreneurs building companies in technology sectors including Internet, software, networking and semiconductors. The partnership will continue its successful investing strategies in the U.S. and Israel.
"The Opus team is bringing some of the freshest technology investing ideas we have heard in some time. We are excited to be an investor in their new fund," said Wei Huang, private equity investment officer for the Oregon State Treasurer's Office.
The Opus Capital fund includes returning limited partners such as Grove Street Advisors on behalf of CalPERS, Aon Pension Plan and VenCap International, as well as new investors including the Oregon State Treasurer's Office, Mesirow Financial Private Equity, Northern Trust, Portfolio Advisors and DuPont Capital Management.
"I have known members of the Opus team for many years and respect their company building abilities," said John Thompson, formerly vice-chairman of the board, IBM Corporation, and prior group executive in charge of IBM's hardware and software businesses. "The Opus team has demonstrated strong operational capabilities and has a tradition of long-term commitments to entrepreneurs. I am pleased to be an advisor to the firm."
"The outlook for early-stage technology companies is very promising, especially for investors with a long history of successful venture investing and operating experience," said Gill Cogan, general partner, Opus Capital. "We will continue to be long-term committed investors who assist entrepreneurs in building successful, sustainable enterprises."
With the closing of this Fund, the Opus Capital general partnership manages both the Opus Capital fund as well as the Weiss, Peck & Greer Venture Partners funds.
About Opus Capital
Opus Capital is a venture capital firm with more than $1 billion capital under management, investing in committed, high integrity entrepreneurs building early-stage technology companies. The team has participated in the successful outcomes of more than 80 companies (including 50 IPOs) in the U.S. and in Israel including AirGate PCS, Electronics for Imaging, FedEx, Genesys, Harmonic, Precept Software and Vantive. Opus Capital is headquartered on Sand Hill Road in Menlo Park, California.