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Print Edition StoriesThursday, February 26, 2009
Bessemer boosts seventh fund with $350M annex
By Mass High Tech Staff
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Bessemer Venture Partners reports the firm has raised a $350 million annex fund for its seventh fund, a $1 billion fund that closed in June 2007.
According to officials at Bessemer, which has an office in Wellesley, the firm will target the new fund at “innovative, high-growth companies around the world.”
Bessemer counts among its exits over the last several years the sale of Postini to Google Inc., Gracenote to Sony Corp., Pure Networks to Cisco Systems Inc., and IPOs of Bladelogic Inc. and Sirtris Pharmaceuticals Inc., among others.
Earlier this month Bessemer joined a $3.9 million Series B round led by Granite Ventures in SonicMule Inc., a California-based developer of interactive sonic applications for Apple Inc.’s (Nasdaq: AAPL) iPhone device. Bessemer was joined by fellow return investors Maples Investments and SonicMule CEO and co-founder Jeffrey Smith.
SonicMule’s core offering is a mobile audio platform supporting iPhone application developers. SonicMule’s Sonic Lighter application creates an interactive video of a lighter flame on the iPhone’s screen. The virtual flame can be spread to other iPhones and appears designed to simulate rock-concert lighter waving.
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