Private Equity
Pappas Ventures has closed its fourth fund with $102 million in capital commitments. The Durham, N.C.-based firm focuses on product-oriented biopharma companies and medical technologies. Pappas also announced that it promoted Rosina Maar Pavia and Sean McCarthy to partner and senior principal, respectively. Partner Arthur Klausner will leave the firm later this year.
2 min read · 10 March 2009
A new fund is being shopped to invest in distressed and liquidating VC portfolio companies, peHUB has learned. The proposed principals are Marty Pichinson (Sherwood Partners), George Hoyem (Blueprint Ventures) and Colin Savage (formerly of Worldview Technology Partners). Doesn’t seem to have gotten much traction yet, but it sounds like an interesting idea on paper. My vote for the firm's name would be ABCapital... Pichinson is an obvious choice for this sort of thing, since he’s Silicon Valley’s official gravedigger. Hoyem is a bit more surprising, but makes sense when you consider that Blueprint has repositioned itself as an investor in corporate orphans (i.e., spinouts/carveouts). Savage certainly understands what a wind-down entails -- given that Worldview decided several years ago not to raise another fund.
2 min read · 10 March 2009
1 min read · 09 March 2009
Element Partners has closed its second fund with $486 million in capital commitments. The cleantech-focused growth equity firm has offices in both Pennsylvania and Silicon Valley. Greenhill & Co. served as placement agent.
2 min read · 09 March 2009
Element Partners, a cleantech-focused venture capital firm with offices in Pennsylvania and Silicon Valley, tomorrow will announce that it has closed its second fund with $486 million in capital commitments. So we've got 5 Questions for David Lincoln, the firm's managing partner: 1. Element Partners originally focused on both early-stage and later-stage investing, but this fund will drop the early-stage component. Why? Lincoln: We'd always had a mixed-stage focus, but the initial impression was that we were primarily early-stage, because of our association with Draper Fisher Jurvetson. In fact, we continue to get a ton of early-stage dealflow, but not as much in the growth or expansion-stages -- even though that's the area where we focused 80% of our attention. So we thought it was good to formalize and emphasize our growth-stage and expansion-stage strategy with this fund and fund announcement. Also, for this moment in the economy, we think there are better cleantech opportunities later.
3 min read · 09 March 2009
2 min read · 06 March 2009
Venrock has raised $194 million for a fund that will invest in late-stage private and publicly-held healthcare companies.
2 min read · 04 March 2009
Rockley Group, a new VC firm formed by UK angel investors Andrew and Robert Rickman, is raising €100 million for its debut fund.
8 min read · 03 March 2009
2 min read · 02 March 2009
1 min read · 27 February 2009
