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Scale Venture Partners said Wednesday it closed its $400 million Scale Venture Partners II fund.

Foster City-based Scale, which was formerly BA Venture Partners, said that due to "a significant response to the offering," original limited partner Bank of America agreed to transfer its interest in Fund II entirely, allowing Scale Venture Partners to build a portfolio of 12 long-term limited partners.

Bank of America continues to be the sole limited partner for Scale Venture Partners I, a $500 million fund.

Limited Partners in Scale Venture Partners Fund II include Credit Suisse, Key Capital Corporation, Lexington Partners, Liberty Mutual, Macquarie Global Private Equity Fund, Montague Newhall, Pantheon Ventures and its affiliates, Paul Capital Partners, Storebrand, and several other domestic and international institutional investors.

Probitas Partners served as placement agent for the fund.

Sale said it focuses on innovative development-stage technology and health-care investments.

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