RRE Ventures, a New York-based early-stage investment firm, has raised more than $137 million for its fifth fund, according to a regulatory filing. It is targeting a total of $250 million, although an earlier report suggested that RRE might actually want to replicate the $300 million it raised in 2006 for its fourth fund.
RRE was co-founded in 1994 by former American Express CEO James Robinson, his son Jim and Stuart Ellman (who had previously launched a startup with Jim to create in-stadium touchscreen ordering systems).
The elder Robinson has since stepped back, but RRE has kept plenty busy. It has around 70 active portfolio companies, including URL shortener Bit.ly, financial news website Business Insider and incentives-based recycling platform RecycleTree. In general, it describes its investment strategy and seed and early-stage investments in “products or services enabled by information technology.”