fund notes 16 05

Fund Notes IDG Ventures Boston closed its oversubscribed fund with $180 million. Participating limited partners include Princeton University, AlpInvest Partners, Flag Capital Management, GIC, Grove Street Advisors and HighVista Strategies. International Data Group, an IT media group that operates IDG Ventures Boston and other VC funds, also participated as an LP, but does not have a majority position. GPs include Michael Greeley, Chip Hazard and Jeff Bussgang. The firm is in the market for a fourth GP. It has become the first IDG-affiliated VC group to raise outside capital (IDG West Coast is currently in fund-raising mode).H.I.G. Ventures of Miami has raised $300 million for H.I.G. Venture Partners II LP, an early stage venture capital fund that targets companies in the health care sector. The firm raised $250 million for its first early stage fund in 2000. The firm?s affiliate, H.I.G. Capital Management, makes investments in private equity and management buyouts.Charlesbank Capital Partners is looking to raise upwards of $900 million for its sixth private equity fund, according to a regulatory filing. To date, the filing says that the Boston-based firm has secured more than $675 million from LPs.J.H. Whitney & Co., a Stamford, Conn.-based private equity firm, has received about $550 million in LP commitments for its sixth fund, according to a regulatory filing. The firm is looking to raise upwards of $750 million, compared to a fifth fund total of $1.1 billion in 2001.GBS Venture Partners, an Australia-based venture firm focused on life sciences, has closed its third fund at $110 million. Limited partners include Westscheme, clients of Quentin Ayers, Wilshire Private Markets Group, clients of Macquarie Funds Management, MilitarySuper, Quay Partners, Statewide and clients of the Counterpoint Group.ATP Private Equity Partners, a Copenhagen-based fund-of-funds manager, has closed its second fund with $1.27 billion of committed capital. It will build a portfolio of VC, buyout and secondary fund positions in North America and Europe. The firm?s first fund most recently made commitments to offerings from Roark Capital Partners, Celtic House Venture Partners and American Securities.The Carlyle Group has secured $170.5 million in commitments for its inaugural mezzanine fund, according to a regulatory filing. The vehicle has an upper cap of $400 million. The fund plans to make mezzanine investments in middle market companies. Separately, the Washington, D.C.-based firm has raised $7.5 billion for its latest buyouts fund, Carlyle Partners IV LP.Integro Ltd., a newly formed insurance brokerage based in New York, has raised $300 million in private equity funding. Backers include DLJ Merchant Banking and Weston Presidio.ABS Capital Partners, a Baltimore-based private equity firm focused on mid-to-later-stage growth companies, is looking to raise $500 million for its fifth fund. The firm raised about $450 million for its previous buyouts fund in 2000.

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