March 3, 2015

Weathergage Closes Third VC-Focused FOF Above $200 M Target

We invest in venture and growth equity because we have a passion for the kinds of game-changing, innovative companies that drive superior investment returns - @JBElsea @WeathergageTeam

Venture capital-focused fund of funds Weathergage Capital has closed its third fund on $230m.

Weathergage Venture Capital III collected commitments from US and international pension funds, family investment offices, endowments and foundations, and entities advised by leading consulting firms.

In February last year AltAssets reported that the firm was seeking $200m for the vehicle.

The San Francisco Employees’ Retirement System committed $20m to Weathergage Venture Capital III back in December 2013.

The pension plan previously invested $25m and $30m, respectively, in Weathergage Capital Investments A and B.

Formed in 2006 by former partners of fund of funds Knightsbridge Advisers, the Palo Alto-based firm raised $182m for its previous fund of funds in 2011.

Weathergage is an active investor in established and emergent elite venture capital firms, with its portfolios including funds which has invested in the likes of Facebook, Uber, and AirBnB.

Weathergage managing director Judith Elsea said, “We invest in venture and growth equity because we have a passion for the kinds of game-changing, innovative companies that drive superior investment returns."

“Our job is to find and back the venture capitalists who are most relevant with the entrepreneurs who are creating these companies.”

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Weathergage
A nautical term that indicates a favorable position relative to the wind. A ship that "has the weathergage" has the initiative and hence a significant advantage over its rivals.