Fundraising

With fundraising down and exits up in the first quarter of 2007, US venture capital is continuing on the tail end of its current cycle. But as the NVCA’s Mark Heesen points out, the quarter’s results shows a subtle change in the psychology of the market. Dave Keating reports.

SAIF Partners, a private equity firm focused on Greater China, has raised $1.1 billion for its second fund as an independent entity. The fund will also invest in Korea and India.

The Boca Raton, Florida-based turnaround private equity firm has closed its sixth fund on $6 billion – a 300 percent increase over its previous fund.

ING Investment Management, a pioneer in the Australian private equity fund-of-funds business, is poised to start fundraising for its fourth investment vehicle.

Vintage Venture Partners, an Israeli fund of funds and secondaries firm, has closed its third fund at $125 million.

Index Ventures has led a consortium investing in the internet retailer, Ozon.ru, in partnership with Russia’s biggest private equity firm, Baring Vostok.

Intermediate Capital has closed its fourth mezzanine fund with €2.25 billion of firepower - the biggest ever raised in Europe. The fund will invest in mezzanine and senior debt, and could also be used for equity co-investments.

Russian private equity firm Baring Vostok Capital Partners has raised a $1 billion buyout fund for investments in the former Soviet countries.

UK fund-of-funds CDC has invested R100 million in Vantage Mezzanine Fund, the first mezzanine fund to be raised in South Africa. The fund is expected to close this August on about R600 million.

NanoDimension has raised €45 million for a dedicated nanotech venture fund, which has already made its first investment.