Correlation Ventures Added 32 Companies to Portfolio in 2013Wednesday, January 29, 2014
Correlation Ventures, a venture capital firm headquartered in San Diego, said it added 32 companies to its portfolio last year, including eight in the fourth quarter, bringing the total to about 70.
The firm, which raised $165 million in funding, said it expects to grow to more than 100 companies.
Correlation uses analytic software to determine what companies to invest in, reducing the response time for companies seeking capital to about two weeks. It also acts as a VC partner working in tandem with at least one lead firm.
“With significant capital still available for new portfolio investments, we’re looking forward to backing more great management teams in 2014,” said Correlation managing director Trevor Kienzle, who heads the firm’s Palo Alto office.