TVM Announces First Closing of TVM V Life Science Ventures

Techno Venture Management, the German-U.S. venture capital firm, announces a first closing of TVM V Life Science Ventures at E70 million.

TVM started raising its fifth venture capital fund earlier this year. For the first time, they have created a fund consisting of two industry specific fund entities: TVM V Life Science Ventures is a dedicated life science fund and TVM V Information Technology is a dedicated information technology and telecommunications fund.

These Munich-based funds are denominated in euros and will invest internationally. Major investment geographies will be Germany, other selected European countries and the United States.

While fundraising for TVM V Life Science Ventures is continuing, TVM V IT initiated pre-marketing quite recently and targets a first closing in the third quarter of 2001.