Fund Notes 03/14/05

The Edgewater Funds of Chicago is looking to raise up to $300 million for its Edgewater Growth Capital Partners II fund, according to a regulatory filing.

Celtic House Venture Partners has closed its third fund with $280 million in limited partner commitments. The Ottawa, Canada-based firm will maintain its early-stage focus on Canadian and U.K. companies in the semiconductor, systems, MEMS, optics and software spaces.

Pine Street Partners of Albany, N.Y. has held a $25 million first close on its inaugural middle-market mezzanine fund.

Avalon Ventures, a San Diego-based venture firm focused on early-stage biotech and wireless technology companies, has closed its seventh fund with $75 million. Limited partners include Harvard Management Co., Paul Capital Partners, Grove Street Advisors and Invesco.

CVC Capital Partners is raising its fourth buyout fund with a target capitalization of $6.7 billion, according to a regulatory filing. The London-based firmís current fund ó CVC European Equity Partners III ó closed on $6.25 billion in 2001.

The Overseas Private Investment Corp. (OPIC) has selected Baring Latin America Partners to manage a new private equity fund that will back medium-sized companies operating in Mexico. OPIC has approved a $60 million commitment to the fund, which is planning to raise between $150 million and $200 million. Baring currently manages two other OPIC-supported funds, one in Latin America and one in Africa.

The BioStar Private Equity Fund of Irvine, Calif. has closed with $26 million in limited partner commitments.

Index Ventures of Switzerland has closed its fourth fund with $400 million. Limited partners include Adams Street Partners, AlpInvest Partners, BP Pension Fund, Horsley Bridge, HarbourVest Partners, LGT Capital Partners, Partners Group and Schroders.

The information in Fund Notes is compiled by PE Week staff from press releases, news articles and other sources. Some of the briefs are derived from filings with the Securities and Exchange Commission, and are only as current as the filings themselves. The listings are not an advertisement for the sale of securities