The Harvard-aligned firm surpassed its $100m target in a signal it has moved beyond the management rift that almost derailed its precursor.

Xfund, a US-based venture capital firm aligned to Harvard University, debuted a third investment fund yesterday with $120m in contributions from undisclosed limited partners.
Xfund aims to leverage innovation from top-tier universities globally in a partnership helmed by Harvard together with New Enterprise Associates, Breyer Capital, Accel Partners and Polaris Partners.
The fund was set up to combine investment rigour with business models based on free-thinking and intellectual awareness from academic founders with unconventional backgrounds such as liberal arts graduates.
The firm’s partners include Harvard’s student-run career support board Harvard Student Agencies and Stanford student-run entrepreneurs body Business Association of Stanford Entrepreneurial Students.
Xfund said the third vehicle had already commenced dealmaking without identifying any portfolio companies.
Earlier investments have included multi-corporate-backed DNA services provider 23andme, neurological stimulator Halo Sport and consumer genome sequencing service Nebula Genomics.
The third Xfund was first unveiled in April 2019 with a $100m target, matching the final close of its precursor in 2014, backed by NEA, Breyer, Accel and other unnamed investors.
Investments from the second fund adjourned for a period in 2016 amid a legal spat between Patrick Chung, a partner at the firm, and his former colleague Hugo Van Vuuren.