Three-decade-old VC firm August Capital, which invests across the IT and business services spectrum, is raising $550 million for its sixth fund, August Capital VI. The Sand Hill investor is dividing this fund into two investment vehicles—a $300 million core fund and a $250 million special opportunities fund that will make growth equity, buyout and other less straight venture investments. The new fund's predecessor, August Capital V, closed on $650 million in 2009.
