VC fund briefs, week of March 15, 2010

HarbourVest preparing for final close on cleantech FoF

Boston-based HarbourVest Partners is preparing to hold a final close on its new cleantech fund. The firm has raised $139 million in commitments to date and is waiting to hear on one or two potential commitments before holding a final close, a source familiar with the situation said last week.

HarbourVest launched fund-raising just over one year ago with a target of $150 million and a hard cap of $250 million. The management company, called HarbourVest Cleantech Associates, was formed in April 2008.

HarbourVest declined to comment. —Erin Griffith

Battery Ventures closes ninth fund

Battery Ventures has closed its ninth fund with $750 million in capital commitments. PE Week reported last week that a final close was imminent.

The Waltham, Mass.-based firm previously raised $750 million for its eighth fund in 2007, and the firm later added a $250 million “overage” fund, although very little of that was called down.

Euro Space Agency launches VC fund

The European Space Agency has launched The Open Sky Technologies Fund, an early stage VC fund that will back companies that apply space technologies and satellite applications to terrestrial industries. It will be managed by German-based Triangle Venture Capital Group. So far, the Open Sky fund has closed on about $20 million of its $136 million target.

WFD raises $116M

WFD Ventures, a New York-based firm focused on medical device startups, has secured $116 million in capital commitments for its second fund, according to a regulatory filing.

Harbor Pacific holds first close

Harbor Pacific Capital, a Los Altos, Calif.-based VC firm focused on tech companies in the U.S. and Asia, has held a $32.8 million first close on its debut fund, according to a regulatory filing.

Team Europe launches

Team Europe Ventures of Berlin has launched a €6 million ($8.2 million) fund for Internet and mobile Internet startups. It will focus on European companies, but also will make U.S. investments. The fund expects to make between four and five investments per year, with a maximum of about $683,000 per company.