Mission Bay Capital, a San Francisco-based venture capital firm focusing on seed-stage investments in biotech companies spun out of the California Institute for Quantitative Biosciences and the University of California, announced that it closed its new fund, its first, at $7.5 millon.

Counting Wilson Sonsini Goodrich & Rosati, John Wadsworth Jr. of Manitou Ventures, and Pfizer among its limited partners, the firm says it will be giving 20 percent of the profit it makes on its portfolio companies back to the University in order to endow the Institute for Quantitative Biosciences, also known as QB3.