Who says banks and VCs are in trouble? OK, they all are for the most part, but it seems like Michigan-based TGap Ventures is doing OK as it closes in on a $30M life science fund (Tgap Managing Directors Jack Ahrens & Pete Farner pictured right). TGap just announced that Renaissance Venture Capital Fund will add $3M to the fund, bringing the total raised to-date at just about $20M.

TGap’s first venture fund, which started in 2002, has paid back investors about 50 percent of their committed funds. Some of the TGap’s previous investments included Afmedica (sold to Angiotech), Small Bone Innovations and MinuteClinic (acquired by CVS).

Congrats.

In other news, the Pfizer/Wyeth merger, when completed by year-end, will generate an estimated $207M in fees for Goldman Sachs and JPMorgan. who are serving as advisers to the mega-transaction.

Peanuts really for these guys, but in this economy any green is good green.

Image from tgapventures

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