Two new funds have emerged with plenty of rations to get you through the coming startup winter, and they’re both led by some familiar names. Fortune.com’s Dan Primack reports that a new firm called Tribeca Venture Partners, targeting local seed stage and early stage startups, might close its first $100 million fund as soon as today.
Meanwhile Betabeat has been hearing some buzz around RTP Ventures, whose whopping
$750 $700 million fund “focusing on technology, internet, SaaS, and cloud computing” will be headquartered in New York, but invest around the world.
In both cases, the funds’ leaders come with a notable pedigree.
The principals for Tribeca Partners, which is located on Park near 50th for now, include Brian Hirsch, a partner with the early stage firm GSA Venture Partners and New York-based Chip Meakem, a partner with Boston’s Kodiak Venture Partners. In fact, Mr. Primack reports, “At the same time, GSA Venture Partners is effectively shutting down. The investment period for its current fund, a $102 million vehicle raised in 2006, ends today. Once that happens, it will be rolled into the Tribeca platform – where it will be known as Tribeca Venture Partners I.”
In RTP’s case, Kirill Sheynkman will serve as managing director. Mr. Sheynkman, who appears to have a soft spot for Yeats, based on the name of his Tumblr, used to be a venture partner for the prestigious Greycroft.
“Too many people think we need a reboot in NYC when all we really need is a VC investment,” Fred Wilson told Betabeat this week in regards to plans to recreate Silicon Valley on Roosevelt Island. “Don’t take it literally,” Mr. Wilson cautioned, when we wanted to know if more investment alone could help New York rival the West Coast. Looks like we weren’t the only ones wondering about that.