Carlyle Closes Carlyle Venture Partners II, L.P. at $600 Million

Washington, DC & San Francisco, CA - Global private equity firm The Carlyle Group today announced the final close of its North American venture capital fund, Carlyle Venture Partners II, L.P., with equity commitments totaling $600 million. The fund is Carlyle’s second U.S. venture fund, its fifth venture capital fund overall, and the 19th fund closed in Carlyle’s history. Carlyle raised its first U.S. venture fund, Carlyle Venture Partners, L.P., in 1997 with L.P. commitments totaling $210 million.

“We are grateful for the confidence our investors have placed in us, and we will work very, very hard to invest their money profitably and wisely,” said Bob Grady, the Carlyle Managing Director who serves as Managing Partner of the fund. “We believe that now is an attractive time to invest in that asset prices are low and that Carlyle’s global network provides a very strong platform from which to invest and help our companies grow,” he added.

The majority of investors in Carlyle Venture Partners II are institutional investors such as public pension funds, corporate pension funds and endowments. Certain high net worth individuals and family offices also invested in the fund. The majority of investment in the fund came from investors based in North America and in Europe.

The fund will be invested by a team of 20 investment professionals based in San Francisco, California; Tyson’s Corner, Virginia; and Washington, DC, which is Carlyle’s headquarters. The fund will invest in high growth companies providing infrastructure and technology to the business or enterprise sector. To date, Carlyle Venture Partners II has invested approximately $117 million in 12 companies in sectors that include software, specialty semiconductors, storage, security, communications, and healthcare technology. Carlyle Venture Partners I, the predecessor fund, is approximately 90 percent invested and Carlyle said that remaining commitments from that fund will be invested in follow-on rounds for existing CVP I companies.