Venrock closes Fund X at $650m; last 3 funds were $450m each

In a significant shift, Venrock recently closed its tenth fund at a substantial $650 million, marking a departure from its decade-long trend of maintaining conservative fund sizes. Noteworthy as one of the few early-stage funds, alongside Benchmark, that refrained from significantly increasing fund sizes amid the bullish market, Venrock's latest move signals a strategic shift.

The private equity firm, renowned for its prudent approach, had kept its last three funds at a consistent $450 million over the past decade, with the sixth fund in 2011 being even smaller at $350 million. This capital raise positions Venrock to capitalize on new investment opportunities and adapt to the evolving financial landscape.