RESEARCH TRIANGLE PARK, N.C., Sept. 8 /PRNewswire/ -- The Aurora Funds,
Inc. (Aurora) is pleased to announce the first closing of its fifth venture
fund, Aurora Ventures V, LP (Aurora V). The first closing of approximately
$50 million was held on August 26, 2005.
Aurora V will invest in early stage life sciences and information
technology companies, primarily in the Southeastern United States. This will
continue the investment strategy of the firm's four previous venture funds.
Aurora V will invest primarily in seed and first-round financings of
companies, frequently taking a lead position in the financing syndicate.
Geographically, the firm will concentrate its investments primarily in the
region bounded by the Washington, D.C.- Baltimore corridor south through
Industry-wise, the firm will continue its life sciences concentration in
biotechnology, medical devices and healthcare services. On the information
technology side, Aurora V will target network and Internet infrastructure
software, semiconductors, data communications, photonics and nanotechnology.
In addition, the firm will pursue situations where there is a merger of life
sciences and information technology capabilities.
Jeff Clark, Managing General Partner of The Aurora Funds, comments that
"This record first closing exemplifies the continued success of Aurora. In
the last eighteen months, Aurora has made investments in seven new companies,
had three IPO's and four exits."
Scott Albert, Managing General Partner of The Aurora Funds added, "We
would like to thank our investors for their continued support and welcome our
new investors. We are very excited about the momentum and the quality
opportunities we are seeing in the region."
About The Aurora Funds
Founded in 1994, The Aurora Funds is a venture capital firm that provides
capital and strategic help to entrepreneurs with early stage life sciences and
information technology companies in the Southeastern and mid-Atlantic United
States. The firm has more than $200 million of total capital under management
and is currently investing out of its fifth fund. The firm has the capacity
to invest between $4 million and $7 million throughout the life cycle of an
investment. More information is available at www.aurorafunds.com.
SOURCE The Aurora Funds