News: Novitas Capital

PA Early Stage Announces First Closing on Fund III

March 6, 2003 –– Wayne, Pa. –– PA Early Stage Partners, a family of venture capital funds that makes investments in early stage information technology and life sciences companies, announced today the first closing of its newest fund, PA Early Stage Partners III. The new fund has initial commitments of $68 million toward a goal of $100 million.


Investors in PA Early Stage III include public and private institutions and individuals. PA Early Stage is led by three Managing Directors – Michael G. Bolton, Robert M. McCord, and Paul J. Schmitt.


"PA Early Stage is extremely pleased to launch our third fund," said Bolton, Managing Director and Founder. "We have an experienced investment team, with a strong track record, that looks forward to taking advantage of a marketplace that is exceptionally attractive for early-stage investment."