Cloud Investor Emergence Capital Closes $250M Fund

Law360, New York (February 29, 2012, 5:51 PM ET) -- Emergence Capital Partners, an early backer of Salesforce.com and other Silicon Valley cloud computing startups, has closed its third fund at $250 million, the firm said Wednesday.

The fund, Emergence Capital Partners III, was oversubscribed and beat an early $200 million target, Emergence said. Investors include the University of Michigan, which put $10 million into the fund in July, according to unversity documents, as well as pension funds and national foundations.

California's public pension fund, CalPERS, and Fairview Capital Partners Inc., the asset manager for a...
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