Venture capital firm Greenspring Associates Inc. raised $999 million for its ninth global diversified venture capital fund.
The fund, Greenspring Global Partners IX, received commitments from returning investors and from a select group of new limited partners.
GGP IX is set to distribute its capital to new and existing global venture capital funds and to investments in information technology, communications and healthcare enterprises. It will also invest in secondary interests in funds and companies.
Greenspring, with offices in Owings Mills, Md., and Palo Alto, Calif., holds over $8.7 billion in committed capital through a number of specialized venture strategies.