Venture firm Benchmark raises a further $500m

Venture firm Benchmark Capital has closed its sixth fund totalling around USD 500 million, according to a report by peHUB.

The Silicon Valley group has a number of videogame and related companies in its portfolio including UK publisher Codemasters, animation specialists NaturalMotion, developer Red 5 Studios and social networking site Gaia Online (pictured).

The new fund is the first since former EA Mobile exec Mitch Lasky joined the group in early 2007.

The peHUB report suggests the new funding will be used for opportunities on the West Coast as well as Europe through spin-off division Balderton Capital.

Some of Benchmark's biggest success stories are eBay, IT firm Juniper Networks and PDA maker Handspring.