Venture Capital Firms Raise Over $2.4 Billion to Fund Next Generation Startups

Palo Alto-based venture firm Eclipse Ventures has raised $1.2bn across two new funds, bringing its capital under management to $4bn. One fund, with $720m in capital commitments, will be invested in early-stage outfits, as well as startups that Eclipse itself incubates. The remaining $510m will be funneled into growth-stage companies. Eclipse's ongoing pitch that legacy industries need to modernize how they operate in order to stay competitive is resonating with investors.