Cloud Apps Capital Partners, a San Francisco-based venture capital firm, closed its second fund, at $87M.
More than 90 % of the capital came from university endowments, large foundations and other institutional investors.
Led by former Salesforce.com executive and venture capitalist Matt Holleran, Cloud Apps Capital Partners is a venture capital firm supporting early-stage (Series A) companies in cloud business application markets. The firm, which now has over $140m under management, has a portfolio of market-leaders including late stage venture companies Zuora, ServiceMax, HootSuite, and CrowdStrike, and Propel.
Exits included Zuora, which provides cloud-based, subscription software that enables any company in any industry to launch a subscription business, ServiceMax, which was acquired for $915m by GE Digital.