Emergence Capital Partners, a San Mateo, Calif.-based venture capital firm focused on investing in Technology-Enabled Services companies, has closed its third fund, at $250m.
Limited partners in Emergence Capital Partners III include university endowments, national foundations and pension funds.
Founded in 2003, the firm focuses on backing companies across a number of areas within technology-enabled services including SaaS, cloud services, business freemium, social and mobile enterprise applications, analytics, and adtech. The new fund will be managed by General Partners Jason Green, Brian Jacobs, Gordon Ritter and Kevin Spain, along with other key team members.
Emergence is known for having been early investors in the top two public SaaS leaders, such as Salesforce.com (CRM), SuccessFactors (SFSF), Yammer, Lithium, YouSendIt, Box, and Veeva Systems.