December 01, 2007
Pacific Community Ventures Closes $40 Million Fund III

Pacific Community Ventures is pleased to announce the final closing of its third investment fund, Pacific Community Ventures Investment Partners III, LLC. The fund officially closed in December 2007 with a total capital commitment of $40.5 million.

“We are extremely pleased to welcome a number of both new as well as returning investors to our latest fund,” said Penelope Douglas, President and CEO of Pacific Community Ventures, Inc. The fund’s institutional investors include a diverse group of public pension funds, funds-of-funds, foundations and commercial banks, including the Golden State Investment Fund, a CalPERS investment vehicle managed by Hamilton Lane; CalSTRS/Banc of America Capital Access III, LLC; Banc of America California Community Venture Fund, LLC; Wells Fargo Community Development Corporation; Merrill Lynch Community Development Company; GKM Newport Fund; the Rockefeller Foundation and First Regional Bank.

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