PALO ALTO, Calif.—Longtime venture capitalist Greg Sands is no heavyweight in Silicon Valley. His young firm, Costanoa Ventures, has made unglamorous investments in business software, and its profits are almost all on paper. Yet this past summer, the 51-year-old Minnesota native raised $175 million for a new fund with relative ease, shunning investors who wanted to pump in more money. “This went pretty much according to plan,” he said with a chuckle.

Source: Wall Street Journal November 21, 2017 10:30 UTC