Bellevue, Wash.-based early-stage venture-capital firm Ignition Partners closed its fifth fund, at $150m.
Investors in the new vehicle, which was oversubscribed and raised in less than three months, include returning and new university endowments, pension funds and investment firms.
The fund will target early-stage investments in enterprise-technology companies located throughout the U.S., with a particular focus on the West Coast.
The firm also added a new partner, Nick Sturiale, based in the San Francisco Bay Area and opened a new office in Palo Alto, Calif. The other team members are John Connors, Frank Artale and Sturiale, who previously worked at JAFCO Ventures, Sevin Rosen Funds and the Carlyle Group.