PRINT THIS PAGE US BA Venture Partners closes $400m venture fund14/02/2005. Source: AltAssets. 
 US venture capital partnership BA Venture Partners has closed its $400m fund BAVP Fund VII. Bank of America is BAVP's sole limited partner.
The firm intends to fully invest this fund over the next four years, targeting early and development-stage opportunities in semiconductors, networking and consumer electronics; internet and wireless services and software-as-service applications; therapeutics for oncology, inflammation, neurology and dermatology; and medical devices addressing orthopedic, cardiovascular and neurological markets.
Kate Mitchell, managing director of BAVP, said, 'We are planning to invest close to $150m of the new fund in the digital consumer space, which for us includes every kind of media at the device and content level.'
'We are also going to expand our historically strong presence in several areas of the therapeutics market, which is attractive given the aging population and the need for more cost-effective, targeted therapies. Most likely we will invest close to $100m in therapeutic companies alone,' Mitchell continued.
BAVP typically leads financing rounds with initial investments of $2-15m and $5-20m over the life cycle of a deal. The firm expects its total investment level in 2005 to equal or exceed that of 2004, during which they invested $120m in 32 companies and drove five liquidity events, including two acquisitions and three initial public offerings.
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