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US Burrill announces second close for Life Sciences Capital Fund26/08/2003. Source: AltAssets. 
 US life sciences merchant bank, Burrill & Company, has held a second close at $150m for its Life Sciences Capital Fund. The firm expects the fund to close at its target of $250m in mid-October.
The fund has attracted an additional $83m since its first close in October last year. New commitments have been secured from a number of new institutional investors, including several undisclosed pension funds and foundations, according to VentureWire.
Disclosed investors include IBM, North Carolina Retirement System, Sam Pension, Scottish Widows and Unilever.
The fund is to focus on early to mid-stage biotech and life science companies, with an average investment of between $3m and $10m.The fund has already made three investments and plans to make as many as six more before the end of the year.
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