CAMBRIDGE, Mass. – MPM Asset Management has launched a sophomore effort, Bio Ventures II Group of Funds, targeted at $300 million to $400 million, a majority of which already has been soft circled, said Ansbert Gadicke, a general partner at the firm. The vehicle, expected to close at the end of the first quarter, will […]
BOSTON – The Schroder Ventures International Life Sciences Fund II in late September reached a $280 million wrap on its core fund and in early October held a $30 million close on three related side funds. Fund II had a $200 million target and a $250 million cap, but the firm negotiated with limited partners […]
RADNOR, Pa. – Cross Atlantic Capital Partners Inc. has launched its inaugural Cross Atlantic Technology Fund, L.P., which is targeted at $150 million and will invest in the United States, the United Kingdom and Ireland. The firm expected a first close on $50 million in October and a final close before the end of the […]
NEW YORK – Atlantic Venture Partners is raising an inaugural fund targeted at $50 million to $75 million. The firm held a first close on more than $20 million in September and expects to have an additional one or two closes before a wrap sometime before March 2000, said Ross Goldstein, a managing partner at […]
BEIJING – The flurry of contradictory headlines in September concerning China’s ban on foreign Internet investments were as perplexing as they were numerous. The confusion began when Minister of Information Industry Wu Jichuan announced that an existing government ban would be enforced on overseas investments in mainland Internet companies, which would affect Internet Service Providers […]
BOSTON – Ascent Venture Partners III L.P. notched a $50 million first close in early October, and Managing Director Leigh Michl expected the vehicle to wrap at its $125 million target by year’s end. Launched in May (VCJ, July, page 18), the fund is the first effort of Ascent Venture Management Inc., the venture capital […]
MENLO PARK, Calif. – Delphi Ventures at the end of October was set to begin raising Delphi Ventures V, targeted at $175 million to $200 million. The fund is expected to hold a first and final close in the first quarter of next year, said James Bochnowski, a general partner at the firm. Delphi Ventures […]
SAN FRANCISCO – Sofinnova Inc. at press time was preparing the launch of Sofinnova V as the firm’s fourth fund was nearing the end of its investment cycle. The new vehicle likely will target $150 million, more than twice the size of its predecessor, said Managing Director Mike Powell, who thought fund raising would begin […]
NEW YORK – The New York City Economic Development Corp. in September issued a request for proposals for a venture capital investment adviser and law firm to manage and structure the city’s newly created Emerging Industries Fund. The $25 million vehicle will provide equity and/or debt financing for small, fast-growing companies in the Big Apple, […]
PALO ALTO, Calif. – Communications Ventures at press time was slated to wrap its fourth fund – its third in two years – on $250 million. The firm also shortened its name to Com Ventures, in part to reflect a growing interest in Internet investments, said General Partner Roland Van der Meer. Com Ventures IV […]