Novak Biddle Closes Fund V

Novak Biddle Venture Partners has closed its fifth fund with $227 million in capital commitments. Returning limited partners include Common Fund, FLAG Venture Partners, Verizon, ATP Private Equity Partners, Howard Hughes Medical Institute, Indiana University, Northern Trust, Notre Dame, Park Street, Silicon Valley Bank, the State Retirement Plans of Virginia and North Carolina, University of California, University of Richmond and Virginia Tech. New LPs include Carnegie Mellon University, the Church Pension Fund, Georgetown University, the Hillman Family, Kenyon College, Little Hawk Venture Opportunity Fund, Lumina Foundation, Pantheon Ventures, Princeton University, Purdue University, University of Minnesota and the University of Virginia.