Alsop Louie Partners, a San Francisco-based venture-capital firm, is raising $100 million for its third fund and has promoted former National Security Agency Deputy Director William Crowell to general partner.
The raising of the fund, Alsop Louie Capital 3 LP, was disclosed yesterday in a filing with the U.S. Securities and Exchange Commission. Stewart Alsop, the firm’s co-founder, confirmed the fundraising plans in a phone interview and said that Crowell, who joined in 2011, will be the third general partner.
Should the firm meet its fundraising goal, the new fund will be the same size as the second one from 2010. Alsop said about one-third of the investments will go into security-related companies, an area of expertise for the firm. In addition to Crowell’s background at the NSA and as chief executive officer of security solutions provider Cylink Corp., co-founder Gilman Louie previously ran In-Q-Tel, the investing arm of the Central Intelligence Agency.
“We get really great deal flow and access to deals that others don’t see,” Alsop said.
While Alsop Louie hasn’t backed any companies that have reached $1 billion valuations, there may be some on the way, Alsop said. Storage startup Cleversafe Inc. raised $55 million this week in a deal led by New Enterprise Associates. Alsop worked at NEA until 2004 and co-founded Alsop Louie a little over a year later.
The firm’s biggest success in security so far was NetWitness Corp., which was purchased by EMC Corp. in 2011.