Regions

Columbia Capital announced its latest fund on Tuesday at $500 million. In its sixth fund, the firm will target investment on Internet infrastructure and cloud computing.

Columbia Capital announced that its sixth venture capital fund was closed in fourth quarter of 2015, according to PE Hub Network. The fund was initially targeted to reach $425 million hard cap, and with its new $500 million venture capital fund, the firm has comitted nearly $3 billion capital in its 25 years of operation.

Founded in 1989 by senator Mark Warner, Columbia Capital focused in internet infrastructure, wireless, broadband, media, and enterprise information technology investing. The firm has invested in more than 100 companies providing early stage venture, later stage venture, and also private equity.

With the new fund, Columbia Capital aim to jump in the wireless airwaves which will auctioned by the government soon. "Everyone knows there is going to be a huge demand for spectrum over time and no one knows when the next auction of such good quality and quantity of spectrum will occur." the source who spoke as anonymous, due to confidential nature of the firm's plan told Washington Post. "So on both the buy and sell side, everyone wants to show up and see where it goes."

Federal Communications Commission (FCC), federal regulators will auction a 600 MHz TV airwave, which describe as a once-in-a-lifetime opportunity that could bolster an existing wireless network. FCC has set last week as application deadline for companies that will to place its bid.

Columbia Capital arose from a group of entrepreneurs that have been familiar with wireless telecommunication. The founder, Senator Mark Warner (D-Va.) has played an important role in helping the companies break into cellular service emerging market, and help the companies to obtain license from FCC in the 1980's. Since then, senator and his entrepreneur group founded Columbia Capital as their venture capital investment arm.

Washington Business Journal reported that Columbia Capital will be one of the many bidders, which mostly are major telecommunications players, on the frequencies that are used to carry mobile voice and data. The auction is expected to begin in spring, and major telecommunication companies like Verizon Communications Inc., AT&T Inc., T-Mobile US Inc. have set up strategy to win the bid.

Auction of 600 MHz TV airwaves is expected to increase coverage in U.S. wireless network coverage. However, since FCC announced the auction, it yield a lot less than anticipated. Sprint Corp. have announced that it will not participate in the bidding.

Columbia Capital has announced its latest fund which targeted on Internet infrastructure. With its experience in wireless technology, the firm will be one of the bidders in FCC aution on wireless airwaves this spring.