Fundraising

Accel closes London V Fund at $500 mln

Accel, the Palo Alto, California, venture-capital firm, closed its London V Fund at $500 million, eyeing early- and growth-stage investments in a variety of industries, particularly marketplaces, software as a service, and infrastructure. The London office has backed teams in 19 countries from London to Tel Aviv. Accel’s funds under management in Europe and Israel total $2.5 billion, and it said it sees “unprecedented opportunity” on the Continent and in the country.

Forbion Capital Fund III closes at $208 mln

Forbion Capital Partners said April 12 that its third main fund, Forbion Capital Fund III, closed at 183 million euros ($208 million). Investors of FCF III include the European Investment Fund (EIF), the Dutch Venture Initiative (DVI), Germany’s KfW development bank, various other regional investment agencies, pension funds, insurance companies, leading European family offices and two strategic investors: Charles River Laboratories and Knight Therapeutics. The fund will invest in private companies developing novel drugs, medical devices and diagnostics for high, or even unmet, medical needs.

Data Spotlight: U.S. VC firms post strongest quarter in 10 years

David Blumberg says LPs are long-term oriented and believe in the future

Grishin Robotics raises $100 mln fund for robotics, hardware, IoT

Grishin Robotics, an investor in Double Robotics and other hardware and robotics companies, has raised a $100 million fund, which is four times larger than its first effort and includes institutional and individual LPs.

Venture firms post strongest quarter in 10 years with $12 bln Q1 fundraise

U.S. VCs raised more money during the first three months of the year than in any quarter in the past 10 years.

Draper Associates raises $190 mln seed fund

San Mateo, California-based Draper Associates has raised $190 million for its latest seed-focused fund. The fund was targeted at $150 million, according to a regulatory filing at the end of last year.

Yaletown Venture Partners launches $135 mln emerging growth fund

Vancouver-based Yaletown Venture Partners has launched a new fund earmarked for technology companies in Canada that have exceptional growth potential, but often too little cash. Yaletown Emerging Growth Fund is targeted to raise $135 million in committed capital, Yaletown General Partner Mike Satterfield told PE Hub Canada. Fundraising is expected to commence shortly, with the goal of reaching a final close by the end of the year.

Vancouver's Yaletown launches C$135 mln emerging growth fund

GP Satterfield says firm aims to hold final close by end of the year

BDC Capital to partner in festivals for VC ecosystem players

Canadian venture capital firm BDC Capital has agreed to partner with Startupfest in a series of festivals. Held in the Startupfest village in Montréal's Old Port, the events will aim to share knowledge and best practices, expand networks, and enhance collaboration between key players in the venture capital ecosystem. These will include startup founders, venture capital funds, angel investors and accelerators. The festivals will take place on July 13th.

VCAP funds raised $1.35 bln, $900 mln from private LPs: BDC

The Business Development Bank of Canada (BDC) said the Venture Capital Action Plan (VCAP) has achieved its goal of launching four privately-managed funds of funds with a total of $1.35 billion under management. BDC, which helped implement VCAP, said the milestone was reached with the final close of HarbourVest Canada Growth Fund, which followed earlier closes by Teralys Capital Innovation Fund, Kensington Venture Fund and Northleaf Venture Catalyst Fund. VCAP, established three years ago to encourage private sector participation in Canada's venture capital market, succeeded in leveraging $900 million from corporate, institutional and other private limited partners, BDC said.