VC fund briefs, week of Dec. 15, 2008

Scott launches Maywood

Kevin Scott

, who has been a part of 3i Group’s U.S. team since he joined inn 2000, is forming a new venture firm called Maywood Capital Partners. In a note to acquaintances earlier this month he wrote that at Maywood, which is taking up residence in Redwood City, Calif., he’ll “continue to manage the bulk of 3i’s U.S. early stage venture portfolio and will also look at new primary and secondary investment opportunities.”

He declined to disclose more details about Maywood.

Last month, London-based 3i Group announced it was closing its Menlo Park, Calif.-based office by year-end in a move that takes 3i out of venture investing entirely.

Scott, who was a consulting partner at PricewaterhouseCoopers before joining 3i, has experience investing in enterprise applications, infrastructure and business services.

Scott currently serves as a director on the boards of four investments he led for 3i, including 13-year-old CollegeNET, a Portland, Ore.-based developer of software to manage scheduling, admissions, donations, student and faculty evaluations. Scott also sits on the boar of 14-year-old Mindjet, a San Francisco-based company that sells knowledge management software; 9-year-old Italio, a Palo Alto, Calif.-based company that develops business process management software; and Fios, a 9-year-old Portland, Ore.-based company that sells electronic discovery software and services to litigators and corporate legal departments.

While Scott hangs up his own shingle, at least two other 3i investors have settled in at established firms. David Aslin, once a partner with 3i, joined Nexit Ventures earlier this year. Robin Murray recently joined Adams Street Capital’s venture capital team, making direct investments. —Constance LoizosSofinnova raises $360M

Sofinnova Partners, a Paris-based venture firm focused on the life sciences and IT sectors, has raised more than $360 million in capital commitments for its sixth fund.

No official target was reported, although the firm is expected to approach the $495 million it raised for its fifth fund, which closed in 2004.

Bain launches fourth VC fund

Bain Capital Ventures has begun raising its fourth fund with a $500 million target and $750 million hard cap, according to VentureWire. A first close is expected early next year.

The Boston-based firm—founded in 2001 as the VC arm of Bain Capital—raised about $500 million for its third fund, which closed in 2007.

Navitas nears close

Navitas Capital plans to close its debut fund in January with between $35 million and $50 million in commitments, according to VentureWire. The Berkeley, Calif.-based firm plans to focus on green building technology companies.