is planning to raise $200 million for its first late stage venture fund, according to VentureWire. The effort follows on the heels of Ignition raising its fourth early stage fund, which was scheduled to close last week with between $350 million and $400 million.
Spanish VC fund launches
Ysios Capital Partners
of Barcelona, Spain, is raising $92 million for its debut fund, which will focus on venture capital deals in the biotech space. It’s believed to be the largest biotech VC fund ever raised in Spain. The firm will support early stage companies, later stage companies and pharmaceutical spinouts. The firm says that 30% of the fund will focus on companies based outside of Spain.
Its team includes Managing Partner Joel Jean Mairet, co-founder and CEO of Glycart Biotechnology AG; Partner Christina Garmendia, co-founder and president of the Genetrix Group; and Partner Julia Salaverria, former director of funds for Talde.
Foundry nears fund close
The Foundry Group, formed by the Colorado-based team of Mobius Venture Capital, has held a $158.75 million first close on its debut fund from such limited partners as Guardian Life, Morgan Stanley, Parish Capital and the University of Texas Investment Management Co, according to a source familiar with the situation.
Foundry had previously targeted $175 million for its inaugural fund, but has since bumped it up to $225 million with a final close expected within the next month.
The Foundry team includes Brad Feld, Seth Levine, Ryan McIntyre, Jason Mendelson and Chris Wand. Their old firm, Mobius, which is winding down, last week had its second big exit in the last couple of months when Sling Media was bought for $380 million.
General Catalyst nears fund V close
General Catalyst Partners
is nearing a $600 million final close for its fifth fund, according to VentureWire. The fund includes a $200 million carve-out pool for larger, more mature companies.
The Cambridge, Mass.-based firm raised $400 million for fund IV in 2005
FTVentures still shy of $600M goal
San Francisco-based FTVentures has raised between $350 million and $450 million for its third venture fund and remains short of its $600 million target, according to Private Equity Insider. The firm, previously known as Financial Technology Ventures, began raising the fund in early 2006.
The firm, which invests in software and other tech companies that support financial services, raised about $423 million for its second fund in 2001 and $200 million for its first fund in 1999.