Highlights from the past week’s VC Investment Company news.

Bing Fund: Microsoft Officially Launches Its New Angel Fund and Incubator Program

Bing Fund is an angel fund with an incubator program, founded by entrepreneurs, sponsored by Bing, and backed by the experience, expertise, and resources of Microsoft. As a startup in Bing Fund, companies will receive subsidized usage of unique APIs from Bing’s data ecosystem and the opportunity to access certain technology assets developed by Microsoft Research. Participants in the BingFund who are local to the Seattle area will also be welcome to use Microsoft’s co-workspace in Bellevue, where they will have daily contact with the Bing Fund team, including seasoned entrepreneurs like Rahul Sood, the founder of VooDoo PC. 

http://www.bing.com/community/site_blogs/b/search/archive/… 

Mayfield Fund Announces Closing of $365M Mayfield XIV

Mayfield Fund today announced the successful closing of Mayfield XIV, a $365 million venture capital fund aimed at early-stage IT companies that leverage the themes of mobile, cloud/SaaS, social, energytech, and big data. Mayfield XIV will be led by Navin Chaddha, along with directors Tim Chang, Robin Vasan, Rajeev Batra, and James Beck, Chief Operating Officer. 

“Mayfield XIV is our third consecutive sub-$400 million fund. Despite being oversubscribed, we felt that keeping it to $365 million made sense for our early-stage investing focus,” said Chaddha. “We value the support of our limited partners who appreciated our consistent investment strategy, top-quartile performance, built-for-the-future team, portfolio company momentum, and 43-year history of investing in relationships. We look forward to continuing to partner with entrepreneurs on their journey from an audacious idea to a built-to-last company.” 

http://www.vcaonline.com/news/news.asp?ID=2012071221

First closing and launch of BioDiscovery 4

Edmond de Rothschild Investment Partners is pleased to announce the first closing and 
launch of the fourth fund in its BioDiscovery franchise dedicated to investing in Life Sciences 
in France and in Europe. 

Thanks to the renewed confidence of its existing institutional investor base as well as new investors who decided to participate in this new fund Edmond de Rothschild Investment Partners reached its objective of €125 million for the first closing in the expected timeframe and confirms its final objective of about €200 million by the end of the year.

http://www.edmond-de-rothschild.fr/News%20Documents/…

Advent Life Sciences Fund I receives additional investments

Advent Life Sciences today announced an investment into its Life Sciences Fund I from a new institutional investor, and increased commitments from certain existing LPs. This brings the Fund to an aggregate amount of £101.3m (€128m, US$158m). The Fund, which closed in November 2010, was re-opened to accept the new and increased commitments. Advent Life Sciences Fund I is dedicated largely to early stage UK and European Life Sciences Venture companies.

http://www.adventventures.com/about-us/news-events/…

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