News

Nova Scotia commits $25 mln to two new venture funds

The Government of Nova Scotia plans to commit $15 million to a new venture capital fund that will invest in late-stage technology companies located in the province and elsewhere in Atlantic Canada. The fund, which is targeted to raise $50 million to $75 million by leveraging additional limited partners, will be managed by Canadian venture capital firm Build Ventures. The government will also commit $10 million to a fund earmarked for investments in early-stage companies in the region, the manager of which has not yet been selected. The fund initiatives are the result of an Innovacorp-led strategic process launched in June 2016.

OrbiMed founder Isaly is leaving firm

Samuel D. Isaly, a founder and managing partner of OrbiMed Advisors, a healthcare-focused investment firm, is stepping down. A management committee comprised of Sven H. Borho, Carl L. Gordon and Jonathan T. Silverstein will replace Isaly as managing partner. Isaly founded OrbiMed in 1998.

6 Dimensions Capital targets $26 mln affiliates fund

6 Dimensions Capital is raising a $26 million affiliates fund, according to a regulatory filing. The firm is based in Cambridge and Shanghai, and specializes in healthcare and life sciences investments in China and the United States, according to its website.

GGV, W Capital, Column show well in emerging venture portfolio

Vida Ventures raises $254.8 mln venture capital fund

Vida Ventures has raised a $254.8 million venture capital fund, according to a filing with the SEC.

Bridge Line Ventures collects over $2 mln for maiden fund

Boca Raton, Florida-based Bridge Line Ventures has raised over $2 million for its debut fund, according to an SEC filing. The target is $100 million.

Cedar lands $13 mln Series A

New York City-based Cedar, a provider of patient payment solutions, has secured $13 million in Series A funding. The investors included Founders Fund, Thrive Capital, Martin Ventures and SV Angel.

Metacrine scores $22 mln Series B

San Diego-based Metacrine, a biotechnology company focused on drug development, has raised $22 million in Series B financing. New Enterprise Associates led the round with participation from return backers ARCH, Polaris, venBio and Alexandria Venture Investments.

Ikove Venture Partners leads $4.1 mln round for ParaGen

ParaGen Technologies, a parent company of four medical device companies, has raised $4.1 million in seed funding. Ikove Venture Partners led the round.

Edwards Lifesciences buys VC-backed Harpoon for up to $250 mln

Edwards Lifesciences has acquired Harpoon Medical Inc, a provider of beating-heart repair for degenerative mitral regurgitation, for up to $250 million. Harpoon Medical was backed by Epidarex Capital.