Avalon Ventures Raises $201.6M As Part Of $250M Venture Fund

In what is a rarity nowadays for a Southern California venture capital fund, San Diego- and Cambridge-based venture capital firm Avalon Ventures has just closed on $201.6M in commitments for a $250M fund, Avalon Ventures X. The funding was disclosed via a regulatory filing Thursday. Avalon has backed such companies as Zynga, Ambit Biosciences, AnayptsBio, Awarepoint, Cheezburger, Inogen, MOGL, Ortiva Wireless, and others. The new fund comes only about two years after Avalon's last fund, Avalon Ventures IX, a $200M fund, was announced.