Cornering Ventures West

After 40 years, Ventures West decided to close up shop this month rather than raise another multi-sector fund. Two life science specialists - one current and one former partner - will manage the firm's existing portfolio and hope to raise a healthcare-focused fund next year under the banner of Five Corners Capital.

Ventures West was founded in 1973 as a tech-focused VC firm and added cleantech and life sciences to its focus in the succeeding decades. The firm raised C$700 million over the course of eight funds, all from Canadian pension funds, endowments and institutional investors...