Burrill wraps up lengthy fund-raising

After more than two years of fund-raising, Burrill & Co. plans to close its third fund at the end of this year.

The fund now stands at $233 million, CEO Steven Burrill told VentureWire in April. The firm has already made a few investments out of that fund and Burrill says that he plans to invest in 15 to 20 companies from the vehicle over a three-year period.

The fund, called Burrill Life Sciences Capital Fund III, was slated to close last summer, sources close to the firm said in June 2006. Burrill firm has been raising the fund since January 2005.

Meanwhile, the San Francisco-based firm said in April that it had closed on $150 million for a fund that will invest parallel to its general life sciences fund. Burrill calls the sidecar fund the “Malaysian fund” because the money for it comes from Malaysian investors.

On top of all that, Burrill has launched fund-raising on a $100 million China fund and a $200 million India fund. The firm hopes to close both by the end of the year, according to reports.

Burrill, which manages the venture funds and operates as an investment bank, has set up offices in Beijing, Shanghai and a neighboring city named Tianjin. The firm also plans to open an office in Mumbai, India, by June. —Alexander Haislip