Rock Spring Ventures, a Scottish Technology Transfer fund, held the first close at £26.3m.
Backers included the European Investment Fund, which committed to invest £8.2m, Scottish Enterprise, the Universities of Aberdeen, Edinburgh and Glasgow, the Strathclyde Pension fund and a group of corporates.
Led by Managing partners Sinclair Dunlop and (Ms) Kyp Sirinakis, Rock Spring Ventures aims to provide venture capital to early stage life science companies primarily considering opportunities from the Universities of Edinburgh, Glasgow, Dundee, Aberdeen and Strathclyde.
The final target of the fund has been fixed at £50m.
FinSMEs
08/02/2013