Meritech Capital Partners has closed its latest fund, the Meritech Capital Partners IV (MCP IV), at $425 million. The California-based firm will primarily target four sectors, internet and digital media, communications and wireless, enterprise IT and medical devices, through the new fund.
The venture capital firm will make typical investments, ranging in size from $10-20 million. The fund brings the firm’s total capital under management to $2.6 billion. Meritech’s previous fund, MCP III, raised $400 million fund.
Click here for the release from Meritech Capital Partners.