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After a near 20-year hiatus from fundraising, Pittsford Ventures Management is back in the market with a new pool, this one earmarked for emerging markets.
The fund, the firm’s fifth, is expected to raise $400 million and could hit $500 million, sources say. A first close is expected in April when the fund could total $75 million, a person says.
New York-based Pittsford is a special situation firm with a VC focus. The firm targets cleantech, healthcare, informatics, and telecommunications. Pittsford has identified potential investments in a U.S. drug discovery firm that targets HIV and certain cancers, as well as a Russian company that has developed water purification technology, according to a Pittsford pitch letter obtained by peHUB.Continue