A first close can be a very happy milestone for those on the fundraising trail. Unfortunately, the first close is also becoming more elusive, according to new findings from the private equity data provider Preqin.

Atlas Venture collected $265 million for its most recent fund, a source tells peHUB. The VC announced Thursday that Amgen Ventures and Novartis are new LPs of fund IX.

Vista Equity Partners is out raising its second Foundation Fund, according to an SEC filing and a placement source.

SAP Ventures has more than doubled the size of its HANA fund of fund and expects to shortly close a second venture capital fund larger than its first. The dual moves represent a substantial expansion of its venture activities.

Rothschild‘s merchant banking arm has completed the first closing of Five Arrows Credit Solutions, its private debt fund focused on the Western European middle-market. The fund has with total commitments so far of 235 million euros ($302.1 million). The final closing target is 400 million euros.

At the end of a two-day conference celebrating all that is venture capital, a quartet of limited partners offered some pointed criticism on what the industry – and the bulk of its practitioners – are doing wrong.

H.I.G. Capital announced Wednesday the final close of H.I.G. Bayside Loan Opportunity Fund III (Europe). The pool, which will invest primarily in debt obligations of small and medium-sized European companies, exceeded its $1 billion target.

Airware has received a $10.7 million round of financing led by Andreessen Horowitz. Google Ventures also participated. Also, Chris Dixon, a partner at Andreessen Horowitz, will join Airware’s board. Airware, which is based in Newport Beach, Calif., which develops autopilots for drones.

Spire Capital Partners said on Wednesday that it so far collected $100 million for its third fund which has a $375 million target. Spire Capital, which has offices in New York City and Pennsylvania, is a private equity firm that focuses on companies in a variety of sectors that include media, education, information services and communications.

Pan-European private equity firm Idinvest Partners has announced an interim close on its latest senior debt vehicle at 205 million euros ($266 million). The fund expects to reach a final close by the end of June 2013.