VC fund briefs, week of June 29, 2009

Domain raises $371M

Domain Associates, a Princeton, N. J.-based venture firm, has raised $371 million toward an indefinite target for its eighth fund, Domain Partners VIII. The firm invests in emerging life sciences companies.

Domain raised $700 million for its seventh fund, which closed in 2006.

Foundation seeks $150M

Foundation Medical Partners, a health care and technology venture firm based in Rowayton, Conn., has raised $58.5 million from six investors for its third fund, according to a regulatory filing. The firm seeks to raise a total of $150 million for the effort, called Foundation Medical Partners III.

The firm raised $95 million for its second fund, which closed in 2005.

TGap more than halfway to goal

Kalamazoo, Mich.-based TGap Ventures has raised $15.9 million toward its $30 million goal on its second fund, TGap Venture Capital Fund II. The firm, launched in 2002, has invested from its $20 million debut fund.