The planned JGV Growth Equity Fund will invest in companies that are on a trajectory to IPO within three years and have what partners believe is a proven business model. The fund expects to invest between $5 million and $20 million in companies with late stage financing needs of between $10 million and $50 million
Jerusalem Global founder Shlomo Kalish said that the aim of the new fund is to produce quicker exits with lower risk, and more predictable returns. The fund’s first close is scheduled for April 2008.
Jerusalem Global was founded in 1994 and previously focused on early stage investments. The firm has invested on occasion in more mature companies, however, including a 2002 expansion round for communications equipment developer Mellanox Technologies, which went public earlier this year. That deal, partners said, will be a model for the sorts of growth investments the new fund will likely pursue.—Joanna Glasner
Frazier Healthcare raises $600M
Frazier, which makes health care focused venture capital and growth equity investments, says it has seen nine portfolio companies go public or get acquired in the last 14 months, including three biopharma companies that launched IPOs, Cadence Pharmaceuticals, Trubion Pharmaceuticals and Amicus Therapeutics.
Frazier Healthcare’s general partners are Alan Frazier, Nader Naini, Jamie Topper, Nathan Every, Patrick Heron, Trevor Moody and Tom Hodge.
Canaan targets $650M