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DURHAM-Intersouth Partners, the state's largest private venture capital firm, is about to get a little bit larger.
The 17-year-old Durham-based investment house led by Dennis Dougherty, already has hit the trail to raise money for its sixth fund, expected to top $220 million.
Insiders familiar with the firm's progress say the company already has received soft committments from many of its investors and could close the round early next year.
Intersouth's latest move comes at a time when the firm has lost two of its associates and is sheparding its investments amid an unfavorable investment climate.
In 2000, Intersouth raised $175 minion for its fifth fund, making the firm the biggest privately held venture capital shop in the state. Bank of America and Wachovia have bigger investment funds.
Intersouth's future investment decisions will be made without the services of a former partner and a former senior associate.
Jonathan Perl, who joined the firm in 1997 and later was named a partner, left in the fall of last year, and senior associate Malcolm Kendall departed in recent weeks.
Neither Perl nor Kendall would discuss the moves. But insiders say Perl, who is taking a job in the Metro District of Columbia office...