September 7, 2005 RTP, North Carolina --- The Aurora Funds, Inc. (Aurora) is pleased to announce the first closing of its fifth venture fund, Aurora Ventures V, LP (Aurora V). The first closing of approximately $50 million was held on August 26, 2005.

Aurora V will invest in early stage life sciences and information technology companies, primarily in the Southeastern United States. This will continue the investment strategy of the firm’s four previous venture funds. Aurora V will invest primarily in seed and first-round financings of companies, frequently taking a lead position in the financing syndicate. Geographically, the firm will concentrate its investments primarily in the region bounded by the Washington, D.C- Baltimore corridor south through Florida.

Industry-wise, the firm will continue its life sciences concentration in biotechnology, medical devices and healthcare services. On the information technology side, Aurora V will target network and Internet infrastructure software, semiconductors, data communications, photonics and nanotechnology. In addition, the firm will pursue situations where there is a merger of life sciences and information technology capabilities.

Jeff Clark, Managing General Partner of The Aurora Funds, comments that “This record first closing exemplifies the continued success of Aurora. In the last eighteen months, Aurora has made investments in seven new companies, had three IPO’s and four exits.”

Scott Albert, Managing General Partner of The Aurora Funds added, “We would like to thank our investors for their continued support and welcome our new investors. We are very excited about the momentum and the quality opportunities we are seeing in the region.”

Please contact Jeff Clark, Scott Albert or Rich Brown with any questions or comments.

The Aurora Funds, Inc. Phone: (919) 484-0400
2525 Meridian Parkway
Suite 220
Durham, NC 27713
email: afinfo@aurorafunds.com
URL: www.aurorafunds.com

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