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Advantage Staffs Up, Reopens Fund –

20 years ago

NEW ORLEANS – Advantage Capital Partners in November relaunched the firm’s first “traditional” venture fund under a new name and expects an initial closing around the beginning of the year. The firm also hired Elliot Fishman to head its new New York office and was scheduled to recruit one or two investment professionals for its […]

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CalPERS Questions Consultants Again –

20 years ago

SACRAMENTO, Calif. – For the second time in less than a year, California Public Employees’ Retirement System (CalPERS) has questioned its two advisers, Pacific Corporate Group Inc. (PCG) and Hamilton Lane Advisors, about how recent staff changes at the firms would affect their services to the $130 billion pension. CalPERS Senior Investment Officer Barry Gonder […]

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VC Pace Unabated In Third Quarter –

20 years ago

NEW YORK – In a mild surprise to some observers, venture capital firms put equity to work at a record pace in the third quarter of 1998, according to the PricewaterhouseCoopers MoneyTree Survey released in November. The $3.77 billion investment total surpassed the previous record of $3.73 billion set in the second quarter. “The pure […]

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Austin Ventures VI Closes $70 Million Beyond Target –

20 years ago

AUSTIN, Texas – Austin Ventures, L.P. closed its sixth fund in late November at $320 million, beating its $250 million target and making its first investment. General Partner Joseph Aragona said he was pleased with the level of interest in the fund and the speed of its closing. “I think it says that [our] balanced […]

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A.M. Pappas Nets $20 Million First Close on Inaugural Fund –

20 years ago

DURHAM, N.C. – A.M. Pappas & Associates, a life sciences investment and consulting firm, held a $20 million initial close on its maiden vehicle in late November. Tech AMP International, launched last summer, will focus on early-stage life sciences, medical devices and information technology companies with therapeutic implications. The fund is A.M. Pappas’ first formal […]

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Phildrew Aims For GBP300 Million –

20 years ago

LONDON – Phildrew Ventures expected a first closing on its fifth and largest fund in late 1998. With a target of GBP300 million ($495 million), the Phildrew Ventures Fifth Fund is nearly double the size of its predecessor, which raised GBP164 million ($271 million) in 1995. Phildrew, however, will need to raise only GBP150 million […]

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Fleet Fund-of-Funds Eyes December Wrap –

20 years ago

PROVIDENCE, R.I. – Chisholm Fund Partners, Fleet Equity Partners’ new fund-of-funds for individuals and small institutional clients, in November held a $20 million initial close as it eyed a final wrap in December. Launched in April 1998, Chisholm Fund Partners’ strategy is a departure from the $35 million Chisholm Partners III and its predecessors. The […]

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Medical Firm Snags An Initial $5 Million –

20 years ago

WELLESLEY, Mass. – Mi3, a new venture firm focusing on the medical imaging market, in late November held a first close on $5 million from the Indiana University Department of Radiology. Mi3, which stands for Medical Imaging Innovation and Investment, will target a final close in June somewhere between $25 million and $35 million. The […]

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Valley Ventures II Notches First Close –

20 years ago

SCOTTSDALE, Ariz. – Valley Ventures II reached a $20 million first close just before Thanksgiving and is slated for a first-quarter wrap on or near its $35 million target. The two-partner firm will back early and later-stage companies in the Southwestern United States, including health-care businesses (VCJ, November 1998, page 21). Valley Ventures, the first […]

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Vestor Rakes In $55M Final Close –

20 years ago

SANTA FE, N.M. – Vestor Partners saw a final close in mid-October that raked in $55 million on its debut buyout fund, said David Chase, a managing general director at the firm. The fund is unusual in that its 75 limited partners are comprised only of wealthy individuals. Commitments to the fund ranged in size […]

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St. Paul Establishes Three Satellite Funds –

20 years ago

BLOOMINGTON, Minn./SAN FRANCISCO – St. Paul Venture Capital Inc. this fall created three more satellite funds based in Minnesota, Southern California, Pennsylvania and San Francisco. The medically focused vehicles, managed by investment professionals well known to St. Paul, give the venture firm access to very early-stage and very niched opportunities. (VCJ, December 1998, page 6). […]

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Media/Com Spinouts Near Fund Raising End –

20 years ago

BOSTON – The two venture firms recently spawned from Media/Communications Partners were well into their inaugural fund-raising efforts this winter, with M/C Venture Partners expecting to wrap a $250 million vehicle in December and Great Hill Partners anticipating a first and potentially final $300 million close in January. The six managing partners of Media/Communications split […]

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Fleet Fund-of-Eyes December Wrap –

20 years ago

PROVIDENCE, R.I. – Chisholm Fund Partners, Fleet Equity Partners’ new fund-of-funds for individuals and small institutional clients, in November held a $20 million initial close as it eyed a final wrap in December. Launched in April 1998, Chisholm Fund Partners’ strategy is a departure from the $35 million Chisholm Partners III and its predecessors. The […]

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HQ, Israeli Bank Close $55 Million Early-Stage Israel Fund –

20 years ago

SAN FRANCISCO/TEL AVIV, Israel – Eager to begin investing its oversubscribed $55 million vehicle, Eucalyptus Ventures recently held a final close on its first fund, which focuses on early-stage, Israeli-related technology and health-care companies. “You can fund raise forever,” said Bruce Crocker, a managing director of the vehicle, which was created in 1997 and is […]

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Germany Launches Largest Life Sciences Fund –

20 years ago

WIESBADEN, Germany – The German state of Hesse in November teamed with Hoechst AG to launch a DM125 million ($74.4 million) venture capital fund focused on life sciences and chemistry and at press time was still in search of fund managers. Future Capital AG, scheduled to begin operations at the beginning of this year, is […]

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Phildrew AimsFor GBP300 Million –

20 years ago

LONDON – Phildrew Ventures expected a first closing on its fifth and largest fund in late 1998. With a target of GBP300 million ($495 million), the Phildrew Ventures Fifth Fund is nearly double the size of its predecessor, which raised GBP164 million ($271 million) in 1995. Phildrew, however, will need to raise only GBP150 million […]

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Israeli High-Tech Tempts GE Capital –

20 years ago

TEL AVIV, Israel – GE Capital’s Equity Capital Group (ECG) in October appointed director Sam Cubac to head the group’s new office in Tel Aviv. ECG made its first foray into the Israeli market in 1997 with a $20 million joint venture with the ABS GE Capital Giza Fund, a high-technology vehicle founded in partnership […]

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