• A biotech VC accuses his Proskauer lawyers of bungling a hedge fund deal, costing him 'hundreds of millions'

    8 days ago - By Business Insider

    Summary List Placement A life sciences venture capitalist claims he was shut out of the meteoric rise of his former partner's hedge fund because his ex-lawyers at Proskauer Rose bungled the deal.
    Dr. Robert Adelman, the managing partner of venBio, says he missed out on the success of Avoro Capital, a hedge fund spun out of venBio in 2016. Lawyers at Proskauer made a drafting error in fund documents that forced him to sell his Avoro stake in 2019, Adelman alleges. His state-court lawsuit against the Big Law firm hasn't previously been reported.
    Avoro was up 19.5% for the year through last...
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  • London's Stride VC raised second $138.6M seed fund, hunts for third partner

    London's Stride VC raised second $138.6M seed fund, hunts for third partner

    8 days ago - By Tech Crunch

    Stride VC , a London-based seed investment fund, has raised its second fund, which will be £100M - identical to its first fund. The fund will invest primarily in London startups but also look at select European opportunities.
    The breakup of the LPs in the fund is 10% fund of funds, 60% other institutional, 28% family offices, and 10% individuals. Stride said some 80% of this new fund came from returning LPs, and 20% from two new unnamed institutional investors. Stride does not have any public or government investment.
    Investors include the founders of Cazoo, King, Pillpack, Dott, and...
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