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The smaller target AH Bio Fund V would mark the first time Andreessen Horowitz has downsized the strategy since launching it 10 years ago.

Newark Venture Partners has raised $62.1 million for its third fund, which is targeting $100 million.

Investors include Paychex, ADP Ventures, Healthworx, The Cigna Group Ventures, Guardian, MetLife, Unum, Strada Education Foundation and Impact Engine.

The fund’s investors include Amgen, Bristol Myers Squibb, and Pfizer Ventures.

LPs include Allina Health System, Bernick's, Fifth Third Bank, FR Bigelow Foundation, MSP Equity Fund and Shakopee Mdewakanton Sioux Community.

Under the no-action guidance letter for rule 506(c), funds will be allowed to assume that investors who can write a check to cover the minimum standards for accreditation meet the statute’s wealth thresholds.

Shine Capital is seeking to raise $200m for its third fund, less than three years after quickly raising its sophomore fund.

The backlash against diversity, equity and inclusion efforts has prompted an emerging manager focused on LGBTQ+ entrepreneurs to give up on his effort.

The target is $5 million.

The capital will accelerate development of a grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security.