Maverick Plans Venture Capital Fund

Oct 23 2014 | 10:53am ET

Maverick Capital is branching out: the hedge fund firm is planning a venture capital fund.

An investor who heard Maverick founder Lee Ainslie III's pitch for the new fund told The Wall Street Journal the $9 billion hedge fund was seeing the best opportunities in years for early-stage investments in private companies.

Maverick seeks to raise $400 million to take stakes in young health-care, consumer and software companies.

In moving into venture capital, Maverick joins hedge fund firms like Tiger Global Management, which the WSJ says now manages more venture fund money than hedge fund money, and Coatue Management.

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