Alloy Ventures closes $368 million early-stage venture fund

By Jennifer Chiou

New York, Oct. 12 - Alloy Ventures said it received $368 million to close Alloy Ventures 2005, its fifth venture fund.

"We were pleased to see that a moderately sized fund investing in both information technology and life sciences continues to have tremendous appeal to both existing and new limited partners," general partner Craig C. Taylor said in a news release.

"Since June the fund has closed equity investments in four companies and moved into a larger facility to accommodate the expanded investment team."

Current life science investments include Alexza Molecular Delivery Corp., Arbor Surgical, Barrx, Codon Devices, Fluidigm, ForteBio, Pacific Biosciences of California and SynergEyes.

The company noted Michael W. Hunkapiller and Ammar H. Hanafi joined Alloy Ventures as general partners this year.

Based in Palo Alto, Calif., Alloy Ventures invests primarily in seed and early-stage companies in information technology and life sciences. The company now manages more than $1 billion.

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