Boston VCs
North Bridge Venture Partners, one of the few big Boston-area venture firms to operate out of a single office, has opened a branch on the West Coast.
The Waltham, Mass., firm now lists a second location on its Web site, in San Mateo, Calif., south of San Francisco. Whether this signals a shift in strategy for the early-stage venture investor is unclear. Managing General Partner Edward Anderson declined to comment for this story.
Historically North Bridge has mainly backed technology companies in Massachusetts. It likes to be close to its start-ups, Anderson said in a 2005 interview.
Most of Boston’s leading venture firms have offices, some substantial, outside the Bay State. They include Advanced Technology Ventures, Battery Ventures, Bessemer Venture Partners, Charles River Ventures, Greylock Partners, Highland Capital Partners and Matrix Partners, all of which have offices in Silicon Valley.
Atlas Venture, which pulled back from the West Coast several years ago, has offices in Europe. Westwood, Mass.-based Prism VentureWorks, formerly Prism Venture Partners, opened an office near Los Angeles in 2005 to promote its digital living and life sciences investing.
North Bridge closed a $515 million fund in 2005, its sixth. The firm is said to be involved in raising a later-stage fund under its brand, an effort led by people previously at Advent International, a Boston-based private equity firm.
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