Steve Burrill

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Whether it’s media or medical industry, Kool-Aid is a killer

Let’s begin with a simple premise: Fantasy is bad. Reality is good. Entrepreneurs begin with a dream. But things go badly when they drink their own Kool-Aid. That’s when valuable advisers can force entrepreneurs to swallow the bitter pill that is reality. And only when aspiration collides with reality and makes the necessary adjustment does […]

Devices & Diagnostics

Steve Burrill is raising a $500 million fund. Is it for his Minnesota project?

San Francisco financier and biotech observer Steve Burrill has made a filing with the Securities and Exchange Commission showing that he is looking to raise $500 million. Could Burrill’s Capital Fund IV be the long-awaited, repeatedly-promised, now-reduced-from-$1 billion fund for Elk Run, the mixed-use development in southeastern Minnesota? According to the filing made on Thursday, none of the $500 million has been raised, but then that doesn’t necessarily mean Burrill doesn’t have commitments for it. In fact a blog is reporting that Rusnano, the state-owned entity formally known as Russian Corporation of Nanotechnologies, is investing $200 million in the fund.


Elk Run developer CEO gets medieval on MedCity News

When you're the president and CEO of a major national real estate development firm, it's best to develop a thick skin. It's also probably not a good idea to post public comments to a news website when you're pissed off at 1 o'clock in the morning. Yet that's exactly what Steve Marks, CEO of Tower Investments in California did upon reading my story Tuesday on the troubled Elk Run BioBusiness Park his company is developing in Pine Island, Minnesota.


Will God save the Elk Run BioBusiness Park project in Minnesota?

"There are two things that we know about the universe," Abraham Algadi said. "We can only control the things we can control. The rest, we leave to a higher power." Algadi is not a priest or philosopher, at least professionally. Algadi, the city administrator for Pine Island, Minnesota, was referring to the fate of the much maligned, often delayed Elk Run BioBusiness Park.

MedCity Influencers

Burrill & Co., Infinity Group to invest in China

Burrill & Co. and the Infinity Group are joining forces to pursue investments in Chinese life science companies. San Francisco-based Burrill, a venture capital/private equity player that's also trying to launch a $1 billion investment fund in Minnesota, and Israel- and China-based Infinity will co-invest in U.S. dollars and Chinese renminbi as equal partners, according to a press release.

Devices & Diagnostics

Coordinate Capital mum on Minnesota biotech fund

Steve Burrill may have trouble keeping quiet about the proposed $1 billion fund to back the Elk Run BioBusiness Park, but at least one Burrill-related fund in Minnesota has largely remained silent on its plans. Coordinate Capital LLC has been trying to raise a $25 million local fund to invest in biomass, energy and life science startups. Ten months later, CEO and managing partner Andrew Pulkrabek has stuck to its guns -- by not saying anything. Which is not necessarily a bad thing.


With foreign fund, Burrill says $1B Elk Run fund at ‘goal line’

The man responsible for finding cash to support the Elk Run BioBusiness Park says he's in final negotiations with a foreign investor for the long-promised $1 billion investment fund. In an interview with MedCity News, Steven Burrill says he is working out the details of a limited partnership agreement with a sovereign wealth fund. He hopes to close the deal by the end of the month.