5AM, Excel Venture Close New Funds
July 7, 2009 at 10:36 am EST | Tags: Private Equity & Venture Capital
The
recession/almost-depression isn’t dampening the fundraising for 5AM
and Excel Venture Management.
As we reported in March, 5AM had raised $119 million of its $150 million goal for its new fund. Today, 5AM announced it had exceeded its $150 million fund-raising target.
According to the NYT DealBook, 5AM raised $159.2 million in capital commitments from 34 investors.
Xconomy is also reporting that Boston-based Excel Venture Management has closed a $125 million fund to invest in new life sciences companies.
According to managing partner and founding director of Harvard Business School’s Life Sciences Project Juan Enriquez:
The fund’s strategy is to look for ideas that have their roots in life sciences, but have broad potential as “platforms” that can be applied in other industries like IT, energy, agriculture, textiles, and chemistry.
Congrats!!
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