University Ventures, a VC backed by Bertelsmann and the University of Texas Investment Management Company, is half way to its $350m fund raise.

University Ventures (UV), a venture capital firm backed by Germany-based media corporation Bertelsmann and the University of Texas Investment Management Company (Utimco), has passed the halfway mark for its second fund, according to a regulatory filing seen by news provider AltAssets.

University Ventures Fund II has received commitments of $188m from six investors, called limited partners, towards its $350m target, the filing showed.

The firm’ $100m first fund received a $50m anchor investment from Bertelsmann, at…