Correlation Caps $165M Fund After Surpassing Target

Law360, New York (January 17, 2012, 3:43 PM EST) -- Correlation Ventures has closed a $165 million fund to target information technology, life sciences and clean-tech sector investments, the San Diego-based venture capital firm said Tuesday, adding that it had handily exceeded its $150 million fundraising target.

Founded in 2010, Correlation Ventures manages a 13-company portfolio — including mobile device network security and performance firm Framehawk Inc. and antibiotics researcher RQx Pharmaceuticals Inc. — and plans to build a 50-company portfolio at a rate of one new investment per month.

"We're excited about the traction we're...
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