Late in 2000, as investors were still assessing the damage from the dot-com crash, the venture capital fundraising spigot remained wide open. So when Silicon Valley stalwart U.S. Venture Partners set out to raise $900 million for its eighth and largest fund, it got a rousing reception: In just three weeks, ending in January 2001, limited partners offered up more than $1.5 billion. USVP decided to cap its cash trove at $1 billion and got ready to start putting the money to work.