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Funds have been ballooning in size as more money continues to flood into Silicon Valley, looking for higher returns than be found elsewhere. VCs also like raising progressively bigger funds because doing so gives them bragging rights. In fact, over the last 24 months, the narrative has been much the same. So-and-so team has raised more money than ever before.
Some of these so-and-sos have included Accel Partners, which raised a record $2 billion last year; Canaan Partners, which raised a record $800 million in July; and Institutional Venture Partners, which closed its biggest fund yet last month with $1.5 billion.
Icon - Ventures - Palo - Alto - Venture
Now Icon Ventures, a 14-year-old, Palo Alto, Ca.-based venture capital firm, has closed its sixth fund with $265 million in commitments — its largest fund to date, if just by a smidgen, having closed it last fund with $260 million in 2014.
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