Quaker Holds First Close

Quaker BioVentures of Philadelphia has held a $164.85 million first close for its second fund, according to a regulatory filing. Limited partners include the Pennsylvania State Employees' Retirement System, University of North Carolina and the Pennsylvania Public School Employees' Retirement System. The filing indicates a $300 million cap, but VentureWire last week reported that the firm might raise up to $400 million. www.quakerbio.com