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 Bing
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
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.
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.
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