Fundraising

Knight Therapeutics to commit $27 mln to Dutch VC fund

Canadian specialty pharmaceutical company Knight Therapeutics Inc (TSX: GUD) has agreed to commit EUR 19.5 million ($27.5 million) to the third life sciences fund managed by Dutch venture capital firm Forbion Capital Partners. The commitment, which follows an earlier commitment to a life sciences fund managed by Sectoral Asset Management, expands Knight's product sourcing strategy for the Canadian market, the company said. Knight plans to commit up to $130 million to this strategy. Forbion this month announced a first close of Forbion Capital Fund III CV at EUR 92 million ($129.6 million).

Cycle Capital unveils new cleantech startup accelerator

Canadian venture capital firm Cycle Capital Management has launched a new accelerator for startups in clean technology sectors. Called Ecofuel, the accelerator will be led by Simon McDougall, who will be its CEO and head coach. Ecofuel, which will also be supported by partners Écotech Québec and Sustainable Development Technology Canada (SDTC), will manage a four-month training, networking and mentoring program and offer participating companies seed funding of up to $100,000. Its first cohort is scheduled for January 2015.

European fund briefs for October 2014

Triple-sizing DN’s new fund; Chiesi’s rare-disease pool; kick-starting Spain’s VC market

Dashboard: IPO proceeds pick up, although total debuts decline

Venture activity down across the board in August, but total IPO proceeds from VC-backed companies perks up after Mobileye debut

Fund briefs

DCM looks to growth-fund strategy; TrueBridge closes FoF; Oak HC/FT wraps up debut fund; and other venture-related fundraising updates

Fund performance: Later-stage bets pay off at Oregon PERS

Union Square, OrbiMed lead venture portfolio; gains with funds of funds, too

Real Ventures grows Fund III to $75 mln, adds partner and principal

Canadian venture capital firm Real Ventures has added $25 million to the $50 million it raised in April in the first close of Real Ventures III. The investors in the latest close include the Business Development Bank of Canada, Export Development Canada and Fondaction CSN, as well as several family offices and individuals. Fund III has a target of $100 million, peHUB Canada previously reported. Montréal-based Real Ventures also announced that former eBay and Kijiji executive Janet Bannister has joined the firm as a general partner, while former consultant and startup entrepreneur Omar Dhalla has joined as a principal. Operating from Toronto, Bannister and Dhalla will focus on deal opportunities in the Toronto-Waterloo corridor.

USVP raising new fund for first time in six years: VCJ

Silicon Valley firm is seeking $275 million for a planned Fund XI.

Growing appetite for VC helps Industry Ventures blow past target for third FoF

Industry Ventures has closed its third venture capital fund-of-funds with $170 million in committed capital after raising the cap a few times during fundraising.

LSP garners $100 mln for new fund

LSP said Tuesday that it has raised $100 million in the first close of its new fund LSP 5. The target is $150 million. Its LPs include unnamed institutional and private investors from Europe and the U.S. The pool will focus on emerging private medical firms.