WellSpring BioCapital Partners LLC of Philadelphia raised $1.1 million from two accredited investors through a private placement of limited liability company interests. The fund plans to invest in health care, life sciences and biotechnology industries. Wynnefield Private Equity Partners II LP of Philadelphia is listed among the beneficial owners of the fund.
TIFF Partners V-US LLC has filed to raise $175 million through a private offering of LLC interests. At the time of its SEC filing, the fund had already raised $131.7 million from 57 accredited investors. In a separate filing, TIFF Partners V International LLC has filed to raise $175 million through a private placement of LLC interests. At the time of its SEC filing, the fund had already raised $55 million from 37 accredited investors. Both funds are located in Charlottesville, Va., and plan to acquire private equity interests. They both list Houston Endowment Inc. among beneficial owners. Additionally, Colonial Williamsburg Foundation is a beneficial owner in TIFF Partners V International LLC.
InvestLinc South Central Fund LLC of Hoffman Estates, Ill., raised an additional $250,000 from two accredited investors through a private placement of membership interests. This brings the total amount raised to $14.5 million out of a targeted $25 million. The fund reported that it had raised $14.3 million as of April 2004. The fund plans to provide financial services to emerging growth companies.