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Mountain Group Partners closes MGP Venture Fund III at $128m

Venture capital firm Mountain Group Partners (Mountain Group) has closed the its third fund, MGP Venture Fund III (MGP Fund III), above target at $128 million.

Mountain Group will continue its strategy of investing in early-stage companies within human and animal life sciences and disruptive technologies.

MGP Fund III has already made five investments including two in the fast-growing animal health sector. In May 2022, the Firm partnered with Merck Animal Health and NovaQuest Capital Management in co-leading a $35 million Series C financing for Targan. 

Another primary focus for MGP Fund III will be in diagnostics, a sector in which the Firm has developed a quality track record since its first fund. Earlier this year, MGP Fund III continued this effort by leading an investment in Mindera Health, a company developing a proprietary dermal biomarker patch to predict treatment response for patients with dermatological diseases. 

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