Novak Biddle Venture Partners is looking to raise less than $150 million for its sixth fund, an amount less than two thirds the size of its prior fund, according to VentureWire.
Novak Biddle General Partner Prashanth "PV" Boccasam said there's "too much money skewing the venture model," creating "over-hyped, over-funded venture start-ups" at a time when start-ups need less money than ever to prosper. "Smaller funds will have much better returns. It's the best way to invest? ?