San Diego and Palo Alto, California-based Correlation Ventures has closed an initial $165m venture capital fund.
Limited partners include endowments, foundations, pensions, family offices, and high-net-worth individuals, including over 30 venture capital professionals who invested personally.
Correlation makes co-investments ranging from $250k to $4m over the life of the company across all industry segments including information technology, life sciences, and clean-tech, U.S. geographies and stages — from seed through late stage.
Launched in late 2010, the firm already manages 13 companies and plans to create a portfolio of over 50 U.S. private companies.
Led by Managing Director and founder David Coats, co-founder and Managing Director Trevor Kienzle, and Grace Chui-Miller, Correlation Ventures has built a database of venture capital financings and outcomes, covering nearly all U.S. venture investments over the last 20 years. The firm employed this information to derive an analytical model that is used to inform its co-investment decisions.
Anu Pathria, Ph.D., leads Correlation’s analytics area.
The firm is also advised by senior venture capitalists and economists who specialize in private equity, including Dr. Steven Neil Kaplan, Ph.D., at the University of Chicago and Matthew Rhodes-Kropf, Ph.D., at the Harvard Graduate School of Business Administration.