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Redpoint Ventures Closes $400M Fund

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Venture capital fund Redpoint Ventures , which has an outpost in Los Angeles, has some new cash in the bank, after announcing $400M in a new fund today, Redpoint V. The firm--which has investments in such local companies as Gravity, Chill, Sonos, and Machinima--said the new fund will go towards early stage investing.

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Redpoint Closes $400M Fund

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Redpoint Ventures , said late Monday evening that the firm has closed on Redpoint IV,a $400M, early stage venture capital fund specifically aimed at the social and mobile Internet, cloud computing, and clean technology. Redpoint's efforts in Southern California are headed by Brad Jones. READ MORE>>.

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Interview with Fouad ElNaggar, Redpoint Ventures

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Redpoint Ventures is one of the venture capital firms which has straddled both Northern California and Southern California, with offices in both locations. It would be interesting to hear about where your interests are nowdays, there was a rumor Redpoint had backed off activity here lately. People can come in and have a coffee.

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BetterWorks Shutting Down On May 31st

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BetterWorks had raised $10M in funding from Redpoint Ventures. Craig said that the shutdown came as a result of not being able to sustain a large enough market, relative ot the high cost of customer acquisition. BetterWorks--and Paige Craig--have been one of the companies driving the growth in Santa Monica's Silicon Beach.

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Sonos Raises $130M In New Funding

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Santa Barbara-based whole home music system maker Sonos has raised $130M in a new funding round, according to a regulatory filing from the firm. No details of the funding have yet been announced by the company. According to the filing, eight investors participated in the new funding for the company. and Redpoint Ventures.

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2U Raises $120M In IPO

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The company--which runs online degree programs for the University of Southern California (USC) and many other schools--had been backed by Redpoint Ventures, which funded the company out of its Los Angeles office. Those investments were led by former Redpoint VC Greg Martin. Redpoint Ventures owned 23.2 percent at 13.95

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Report: Machinima Looking For A Mega Funding Round

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Is Los Angeles-based YouTube network Machinima looking for a big round of funding? Machinima last raised funding in May of last year, raising $35M from such backers as Google, Redpoint Ventures, and MK Capital. Fellow YouTube network Fullscreen raised its own big funding round in April. READ MORE>>.

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