Sofinnova Partners, a European life sciences venture capital firm based in Paris, London, and Milan, has launched a new investment strategy focused on digital medicine, which will be led by partners Edward Kliphuis and Simon Turner.

Private markets specialist Portfolio Advisors has held the final close of the Portfolio Advisors Private Equity Fund XI at just over $1 billion in limited partner commitments. The fund was oversubscribed and surpassed its original target of $750 million.

JMI Equity, a growth equity firm focused on investing in software companies, has closed the JMI Equity Fund XI, and JMI XI Executive Fund, with total commitments of $2.4 billion. The fund was oversubscribed, with demand exceeding the original $2 billion target.

Rakiza, an infrastructure fund investing in the Sultanate of Oman and the Kingdom of Saudi Arabia, which is co-managed by Oman Infrastructure Investment Management and Equitix, has reached the target for its first vehicle with over $1 billion in capital commitments.   

Deerpath Capital Management attracted more than than $2.8 billion in capital commitments for its sixth private credit fund, according to a report by Reuters. The fund will finance healthcare, IT and business services companies with enterprise values between $50 million and $150 million. Fundraising for the fund began in September 2021 with final close being held on 1 February. Backers include asset managers, private insurance companies and both public and private pension funds from around the world. Deerpath’s previous fund, which closed in 2021, raised more than $2 billion in 2021, according to a company spokesperson, who also confirmed that

Petronas, Malaysia’s state-owned oil company, is planning to expand its corporate venture capital arm by up to $200 million with the extra funding set to be in place as early as April, according to a report by Reuters. Two unnamed Reuters sources have revealed that the new funding will be focused on innovation and technology investments across Asia-Pacific, although the plan has yet to be finalised and details may change. Petronas responded to a request from Reuters for confirmation by saying that it “plans to allocate additional funds to Petronas Ventures, increasing the size of its venture capital arm from

SWEN Capital Partners, a €7.7 billion private investment firm focused on responsible investment in unlisted assets in Europe, has closed its Blue Ocean fund with €170 million in capital commitments, exceeding its stated target of €120 million. The fund was originally launched in September 2021 in scientific partnership with Ifremer to finance 20 to 25 innovative (primarily start up) companies across sustainable aquaculture, ocean data, plant and cell-based seafood, alternatives to single-use plastic, renewable marine energies and decarbonization of maritime transport. Institutional investors from Europe and the US, ranging from pension funds to insurance companies, banks, sovereign funds and family

Venture capital firm General Catalyst is looking to raise at least $5 billion for its next flagship fund, according to a report by Bloomberg, citing an unnamed source. The firm’s last fund raised $4.6 billion and closed in February 2022. According to the Reuters source, General Capital has already begun sounding out existing investors about committing to what will be its 12th investment vehicle, although no final decisions on the fund’s size have been made and formal fundraising isn’t expected to begin until later this year. The Cambridge, Massachusetts-based company, which is led by chief executive officer Hemant Taneja and