Science, the L.A.-based incubator, just closed on $75 million for its first real venture fund

Science Inc, the Santa Monica, Ca.-based incubator and investment firm, has closed a new venture capital fund with $75 million in commitments, shows a new SEC filing.

According to the six-year-old firm, the vehicle is its first official venture fund — with traditional limited partners, including a fund of funds, sovereign wealth funds, foundations, and other institutional investors.

The capital will be used to back breakaway companies coming out of its incubators, as well as to co-invest in deals that were not seeded by Science, and it comes on the heels of a few other vehicles that Science has raised over its relatively short history.

Those other entities include its Science Incubator, which raised $40 million from investors; its Science Incubator II, which raised $8.2 million;…

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