Its prior fund has already had three liquidity events and has two more pending. Portfolio company Amicus Therapeutics Inc. (Nasdaq: FOLD) went public in May 2007, while Eximias Pharmaceutical Corp. was acquired in April 2006 and MedMark Inc. was bought in June 2006. Acquisitions are pending for portfolio companies BioRexis Pharmaceutical Corp. and Precision Therapeutics Inc.
Sherrill Neff, a Quaker founding partner, said in a prepared statement that the Mid-Atlantic area “continues to lag in the pace of life sciences venture investment, even though it is home to many of the world’s largest pharmaceutical companies, leading research institutions and government agencies.”
In addition to Neff, the Philadelphia-based firm has five other partners: Brenda Gavin, Richard Kollender, Ira Lubert, Adele Cirone Oliva and Dr. Matthew Rieke. Oliva, formerly with Apax Partners, joined Quaker last year.
Quaker did not reveal the names of the limited partners in its second fund, but Thomson Reuters (publisher of PE Week) reports that the firm’s LPs include the Pennsylvania Public School Employees’ Retirement System and the Pennsylvania State Employees’ Retirement System.
Quaker’s second fund has already invested in five life science companies: Argolyn BioScience, Diasome Pharmaceuticals, EKR Therapeutics, Optherion and Transave. —Lawrence Aragon
Gore’s Generation closes $683M climate fund
The crossover fund, which will target public and private companies, will invest in renewable energy technologies, building efficiency, cleaner fossil energy, sustainable agriculture and carbon markets, making average investments of $30 million a time.
Of the $683 million, $100 million is to be committed to a new fund from U.S. venture firm
Generation was launched in 2004 by Gore and David Blood, a former CEO of Goldman Sachs Asset Management.
Austin forms SaaS platform
Fountain closes Irish life sciences fund
Limited partners include the European Investment Fund, the National Pension Reserve Fund and Enterprise Ireland.
The firm is an Ireland-based spinout from Elan Pharmaceutical’s New York-based corporate venture capital group. Fountain will maintain a New York office, but most of its investments will be in Europe.
ATA aims for $250M
ATA Ventures has begun marketing its third fund with a $250 million target, according to VentureWire. It is expecting to hold a first, and perhaps final, close in July. The Redwood City, Calif.-based firm raised $196 million for its second fund back in 2006.
Legend secures $350M
Legend Capital closed its fourth fund with $350 million in capital commitments. The Beijing-based firm focuses on early stage VC and mid-market growth equity opportunities in China. Its typical investment size is between $5 million and $20 million.