VC fund briefs, week of April 7, 2008

Incubator revs up

Berkeley, Calif.-based Emergence, a life science incubator firm, has raised nearly $100,000 from 16 investors to help early stage companies get off the ground, according to a regulatory filing. The firm recently partnered with Stockholm-based ExThera to create a joint venture focused on developing a new technology to treat sepsis, an inflammation caused by infection, within intensive care units.

The joint venture company, called ExThera Medical, claims that some 750,000 patients develop these inflammations each year. The company says about a third lose their lives from it. Emergence lists Robert Ward, George Pitarra, Kathleen White and Keith McCrea as fund managers and Gail Ward as a beneficial owner.

Maveron raises $240M

Maveron, a Seattle-based venture firm focused on the consumer sector, has closed its fourth fund with $240 million, according to VentureWire. Limited partners include Yale University, Massachusetts Institute of Technology, Princeton University, MacArthur Foundation, Mayo Foundation, Carnegie Corp., Knightsbridge Advisors and Legacy Venture. The firm raised $200 million for fund III, which closed in 2004.

Digital media investors name joint effort Mailroom

The Mailroom Fund has been chosen as the name for a new VC effort from William Morris Agency, Accel Partners and Venrock, according to PaidContent. PE Week broke news of the fund last month (March 3, 2008 issue). The firm plans to make seed stage investments in digital media companies.

Canadian firm raises $106M

Canadian seed and early stage venture capital firm iNovia Capital has raised about $106 million for its second fund. Limited partners include Consensus Business Group, Caisse de depot et placement du Québec, FIER Partners, BDC Capital, AVAC Ltd., Solidarity Fund QFL, Export Development Canada, Fondaction, McGill University, University of Alberta, Universite de Sherbrooke, Bishop’s University Foundation CSN, Gestion Univalor and Telesystem Ltd.