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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 new fund follows Redpoint IV, which also was a $400M fund, which was raised three years ago. READ MORE>>.

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Report: Redpoint's Martin Leaving Firm

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Greg Martin , the partner heading up Redpoint Ventures ' Los Angeles office, has reportedly left the firm, according to a report from the Private Equity Insider. Martin is no longer listed on Redpoint's web site, was not listed in its latest fundraising documents, and declined to comment on the story. READ MORE>>.

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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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Redpoint's Fouad ElNaggar Departs Firm

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In another switchup for venture capital firm Redpoint Ventures efforts in Southern California, Fouad ElNaggar , who had been covering Redpoint's investment efforts in Los Angeles, has departed the firm. ElNaggar said he "missed being an operator" despite describing his positoin at Redpoint as "a dream job."

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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. READ MORE>>.

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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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