Finistere Plans New Venture Fund
Bruce V. Bigelow8/25/10
Finistere Ventures, a San Diego venture capital firm that has maintained a low profile while investing in early stage medical device and agricultural biotech startups, is laying plans to raise another venture fund next year. Managing Director Bruce J. “Jay” Brumfield confirms a report in VentureWire today, which says the Finistere Ventures II fund will exceed the $35 million the firm raised for Finistere Oceania Partners I and Finistere Chicago Partners I. But Brumfield says it’s still too early in Finistere’s capital-raising plans to discuss details. Finistere closed Finistere Oceania Partners I (raised from New Zealand institutions) and Chicago Partners I (raised from Chicago-area individual investors) in 2005. The firm drew capital equally from both funds in making its investments in 14 startup companies.
Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788
