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RRE Ventures raising fund six

By
Erin Griffith
Erin Griffith
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By
Erin Griffith
Erin Griffith
Down Arrow Button Icon
February 26, 2014, 2:38 PM ET

FORTUNE — RRE Ventures has entered the market with its sixth fund, according to a regulatory filing with the SEC. The New York-based venture capital firm is expected to have an easy time hitting its target of $250 million, the same size as its last fund.

If there is enough demand, RRE may increase the fund by up to $50 million, according to a limited partner familiar with the situation. RRE did not respond to requests for comment

Last October, Jim Robinson, co-founder of RRE, told StrictlyVC that RRE was “mostly through” its fifth fund and that fund six would be in the “same $250 million range.”

The fund is expected to be oversubscribed, the limited partner said. RRE has had a number of big exits this year, including the $800 million sale of Braintree to Paypal (RRE invested in Venmo, which sold to Braintree) and the $403 million sale of Makerbot to Stratasys (SSYS). RRE also made early bets in fast-growing startups like Quirky, a seller of unusual inventions, Kik, the popular messaging service, BuzzFeed, the media company and Sailthru, an ad-tech company.

Founded in 1994, RRE’s last fund was a 2012 vintage with $230 million in commitments.

Earlier this year, the firm hired Steve Schlafman of Lerer Ventures as a principal to help source early stage deals for mobile services, hardware, and marketplace companies. Schlafman filled a hole left by Adam Ludwin, who remains a partner at the firm but moved to Los Angeles to run his own startup, Koa.la.

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By Erin Griffith
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