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The emerging manager has found traction by targeting investors who are health and wellness influencers, including two with more than 630,000 followers combined on TikTok and Instagram.

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.

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.

A seasoned angel investor, Anand Chandrasekaran is excited to apply his operating skills to further advance the deeptech VC’s hardware systems practice.

The public pension has committed a combined $95m to venture funds managed by Upfront Ventures, StepStone Group and Mission BioCapital since 2019.