Fund briefs, June 25, 2007

Harvest raises $815M

Harvest Partners

has closed its fourth fund with $815 million in capital commitments. The New York-based buyout firm focuses on middle-market opportunities in the North American industrial, business services and consumer/retail spaces. The firm raised $558 million for its fourth fund in 2002.

In connection with the formation of fund V, the firm also completed its ownership transition from co-founders Harvey Wertheim and Harvey Mallement to Senior Managing Directors Thomas Arenz, Stephen Eisenstein and Ira Kleinman. In related Harvest news, the firm also has promoted Michael DeFlorio to senior managing director from managing director. He joined the firm in June 2003, and led the recent acquisition of Aquilex Corp.

PTV Sciences closes fund II

PTV Sciences

, a Houston, Texas-based venture firm focused on life and material sciences, has closed its second fund with $190 million in capital commitments. It also has added Venture Partners Nancy Chang, former president and CEO of Tanox Inc., and Stephen Slade, a fellow at the American Academy of Ophthalmology and the American College of Surgeons.

The firm raised $66 million for fund I in 2003. The new fund has invested in three companies. They are Austin-based Apollo Endosurgery Inc., a medical device company specializing in scarless surgical procedures; Bozeman, Mont.-based BioSurface Engineering Technologies Inc., which is developing therapeutic compounds to improve bone and soft tissue repair; and New York-based Ziopharm Oncology Inc. (Nasdaq: ZIOP), which is developing cancer drugs.

Parthenon falls short of $1B target

Parthenon Capital has closed its third fund with about $700 million in capital commitments. The Boston-based firm had targeted the fund at $1 billion. But the latest buyout fund is on par with the previous fund, which raised $750 million in 2001.Managing Partner Will Kessinger declined to disclose LPs, but he said that 80% of fund III came from existing investors, including its top five investors who each increased their commitments. He also noted that during fund-raising, the firm transitioned from a founder-led organization to a partnership-centric model. Co-founders John Rutherford and Ernest Jacquet, who started the firm in 1998, will invest from fund III as managing directors.

MVision Private Equity Advisors

served as placement agent.

Energy fund charged up with $1B

EnerVest has closed its eleventh fund with $1.02 billion in capital commitments. The Houston, Texas-based firm acquires upstream oil and gas properties and companies in North America. It closed its previous fund at $550 million in early 2005.

Earlybird catches $70M

Earlybird Venture Capital

of Germany has held a $70 million million first close for its fourth fund, according to a regulatory filing. It is targeting upwards of $340 million, with MA Private Equity Partners serving as placement agent.