Five Corners Capital Inc. financial update
Newly founded investment firm Five Corners Capital will assume management of the remaining portfolio of Ventures West Capital, which will wind down active operations this month. Five Corners was formed by Managing Directors Kenneth Galbraith, a general partner at Ventures West since 2007, and Gary Bridger, who was a venture partner at Ventures West in 2010-12. Galbraith said Ventures West is winding down because the partners decided against raising another multi-sector venture fund.
Five Corners will be a general partner to the remaining portfolio of 12 active investments in the biotech, tech and cleantech sectors. The portfolio has seven active biotech investments, including cancer play Celator Pharmaceuticals Inc. (OTCBB:CLPM, Ewing, N.J.), infectious disease company Presidio Pharmaceuticals Inc. (San Francisco, Calif.) and MacroGenics Inc. (Rockville, Md.). Ventures West was founded in 1973, managed 8 funds with over $700 million in commitments and invested in over 160 companies. ...