Monday, January 10, 2011
Avalon Ventures Closes $200M Fund
San Diego-based Avalon Ventures, a venture capital firm focused on early stage high tech, digital media, and life sciences firms, said today that it has closed on $200M in capital commitments for its latest fund. Avalon said that the fund, Avalon Ventures IX, LP, is the ninth and largest fund for the company. The firm said the fund was 33 percent oversubscribed from its original target of $150M. Avalon is headed by Kevin Kinsella, Stephen Tomlin, Jay Lichter, Doug Down, Rich Levandov and Brady Borhmann. Avalon is a backer of Zynga, Otonomy, ReVision Theraputics, and others.