Okapi Closes Fund

Laguna Beach-based Okapi Venture Capital has closed its first fund, Okapi Ventures I, LP at $30M, the fund said today. Okapi said it received the commitments from Advanced Medical Optics, Conexant Systems, Edwards Lifesciences, Western Digital, and a number of other institutional and individual limited partners. The new fund will invest in seed and early stage information technology and life sciences opportunities, with a emphasis on Orange County. The firm's managing directors include Marc Averitt, and Sharon Stevenson who has also served at Domain Associates. Both are also involved with OCTANe, a business accelerator in Orange County focused on technology and life sciences businesses. More information »