Stuart Ellman raises $280 Million for RRE’s sixth fund

0
3

Ellman, co-founder  of the New York based venture capital firm,  took  less than six weeks to complete the fundraising process.

Stuart Ellman

Stuart Ellman, a managing  partner in  the New York based venture capital firm RRE, has completed a sixth round of funding valued at $280 million for the company which he co-founded in 1994.

New York based RRE have established a strong reputation for their prudent investments in startups emanating from the East Coast of America, with some of their most spectacular successes to date being On Deck Capital, who specialize in providing finance small businesses that now have a market value approaching $1 billion, WHIPTAIL, was acquired by Cisco for $415 million, Brooklyn-based 3-D printer manufacturers Makerbot, who were acquired by Stratasys Incorporated in 2013 for a similar sum.

In the close to twenty  years since its founding, RRE Ventures has now raised six  funds, and invested in more than two hundred  companies,  and company manages assets valued at over $1 billion.

In a classic case of nothing succeeded better than success, RRE  sixth fundraising run was close to being oversubscribed not surprising, according to another partner in the company Jay Hass, who explained that RRE’s fifth fund to together in 2011, provided investors with a 59% internal rate of return.

The reason being is that Hass and Ellman and the rest of the team at RRE know the New York high-tech investment scene inside out, with twenty years of experience and commitment to continue investing in young tech talents.

However, industry onlookers comment that not a single multi-billion dollar start-up has emanated from the East Coast,  until now, from there, with the focus still very much remaining outlets and particularly within Silicon Valley.

Despite that fact, Ellman and RRE will continue to look out for fresh talent, and with the returns they have succeeded in  bringing to investors, should  have no difficulty in the future to raise funding rounds.

In a statement announcing the latest round of capital funding, Stuart Ellman stated that the company continues to beboth proud and humbled by what New York startups have been able to achieve.  “We think the best is yet to come.” Stuart summed up.

Aside from his work at RRE Ventures, Ellman also finds time to serve on the board at the 92nd Street Y, a voluntary community and Jewish cultural organization, which was founded 2001.

 

Stuart Ellman graduated with a BA in economics from Wesleyan University, where he was a Gilbert Clee Scholar and a Horace White Fellow.

After graduation in 1988, Ellman began his professional career working as a financial analyst at SBC Warburg Dillon Read, before returning to study for his MBA, which he gained  with Distinction from Harvard University in 1992.

Stuart Ellman’s first tested his entrepreneurial and management in being involved in the establishment of Advisory Capital Partners, a principal investment and advisory firm where he held the post of vice president.

Stuart later renewed his acquaintance with Jim Robinson IV, whom he had met  and studied  together with at Harvard, with the pair establishing RRE Ventures in 1994.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.