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Bay Partners is looking to raise up to $325 million for its 11th venture fund, according to a regulatory filing. The Cupertino, Calif.-based firm already has closed on about $175 million in commitments from such limited partners as Paul Capital, the BP Pension and Horsley Bridge Partners.Escalate Capital has held a first close on its $200 million-targeted debut fund. The later-stage structured finance/venture debt firm was launched last year by Ross Cockerell, a former partner with Austin Ventures; Tony Schell, former head of ComericaÕs technology and life sciences lending office in Austin; and Jim Ellison, formerly of Silicon Valley Bank. Limited partners on the first close include GM Pension Plan, The Meadows Foundation, Portfolio Advisors,
Fund Notes
Teacher’s Private Capital, UTIMCO and Verizon.Vivo Ventures, a Palo Alto, Calif.-based venture firm focused on the life sciences sector, has raised nearly $98 million in limited partner commitments for its fifth fund, according to a regulatory filing.NGEN Partners, a Santa Barbara, Calif.-based VC firm focused on mid-to-late-stage companies in the materials science space, has held a first close on its second fund, which is targeted at $150 million. Participating limited partners include the California Public EmployeesÕ Retirement System, the California State TeachersÕ Retirement System, The Camille and Henry Dreyfus Foundation, Cycad Group, the Glenn Foundation, Siemens Venture Capital, Asahi Glass Co., Air Products, BASF, Bayer MaterialScience, DuPont, DSM and Henkel.Georgia Venture Partners (GVP) of Atlanta, raised $9 million for its GVP Seed Fund, according to a regulatory filing.

GVP was formed last year to make seed and early stage investments in life science companies in Georgia.Linsalata Capital Partners of Mayfield Heights, Ohio, has filed to raise $410 million fund for its fifth buyouts fund. At the time of its SEC filing, the fund had already raised nearly $300 million from 35 accredited investors. Linsalata raised about $331 million for its fourth fund in 2000.The Minnesota State Board of Investment, Adams Street Partners, St. Paul Fire & Marine Insurance Co. and 3M Investment Corp. are among the limited partners in Split Rock PartnersÕ inaugural fund, according to a regulatory filing. Split Rock has closed the fund at $275 million.North Bridge Venture Partners is looking to raise up to $515 million for its sixth fund, according to a regulatory filing.Sun Capital Partners Inc. of Boca Raton, Fla., raised $1.3 billion for its fourth buyouts fund. Its third fund raised $500 million in 2003.

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