Borealis Ventures is raising up to $50 million for its second fund, according to a regulatory filing. The Hanover, N.H.-based firm focuses on early-stage opportunities in Northern New England and “throughout the Dartmouth College network.” www.borealisventures.com
Providence Equity Partners has raised the cap for its sixth fund to $12 billion, according to LBO Wire. The media and communications-focused buyout firm had been targeting $10 million, but is oversubscribed. www.provequity.com
Atlas Venture has closed its seventh fund with $385 million in capital commitments. The fundraising had been essentially completed back in June, but had been held open for a few straggling limited partners which were rolled in last month. News of the final close was first reported by VentureWire. www.atlasventure.com
The Massachusetts Pension Reserves Investment Management Board (PRIM) has issued an RFP for managers who will invest in opportunities that will “benefit of the economic climate of” Massachusetts. This includes alternative asset managers like venture capital and buyout funds. The RFP was issued last week, and proposals are due by March 9. www.mapension.com
Evercore Partners has completed its acquisition of Braveheart Financial Services Ltd., a U.K.-based boutique financial advisory and investment management firm, for around $63 million. www.evercore.com
Core Capital Partners has promoted both Philip Eliot and Jagtar Narula from vice president to principal. www.core-capital.com
Pinnacle Gas Resources Inc., a Sheridan, Wyo.-based onshore natural gas exploration and development company, plans to offer 3.57 million common shares via its proposed IPO. It plans to trade on the Nasdaq under ticker symbol PINN, with Friedman Billings Ramsey serving as lead underwriter. Shareholders include DLJ Merchant Banking. www.pinnaclegas.com
Innovawave Inc., a Round Rock, Texas-based provider of virtualization performance and efficiency management software, has raised $2 million in Series A funding led by Silverton Partners, according to a regulatory filing.
Bank of New York is raising up to $200 million for a new mezzanine fund (BNY Mezzanine Partners), according to a regulatory filing. It already has secured around $130 million in capital commitments. www.bankofny.com
Heavy Inc., a New York-based broadband entertainment company, has raised $12.8 million in Series E funding, according to a regulatory filing. Company backers include Polaris Venture Partners and Jacobson Investments. www.heavy.com