PRINT THIS PAGE US St. Paul Venture Capital splits to form two separate funds20/05/2004. Source: AltAssets. 
 US-based St. Paul Venture Capital, a $3bn venture capital firm, is planning to split up and form two separate funds with different areas of focus.
The proposed split will see partners involved in healthcare, software and services investing, leading one firm. Partners involved in communications investing will lead the other, according to a report by Reuters.
Insurance giant St. Paul Travelers, which is currently the sole investor in St. Paul Venture Capital, will commit 'significant capital' to both firms. But it is unclear whether the insurance company will continue to act as sole limited partner, or whether the two funds will seek outside investments.
The pending split is reminiscent of that undertaken by the Sprout Group, Credit Suisse First Boston's venture capital affiliate. Sprout announced last October that a group including four healthcare partners would split off to form Sprout healthcare Ventures.
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