Foresite Capital raises $969 million fund to invest in healthcare startups across all stages of growth
Health and life science specialist investment firm Foresite Capital has raised a new fund, its fifth to date, totaling $969 million in commitments from LPs. This is the firm’s largest fund to date and was oversubscribed relative to its original target according to fund CEO and founder Dr. Jim Tananbaum, who told me that while the fundraising process started out slow in the early months of the pandemic, it gained steam quickly starting around last fall and ultimately exceeded expectations.
This latest fund actually makes up two separate investment vehicles, Foresite Capital Fund V, and Foresite Capital Opportunity Fund V, but Tananbaum says that the money will be used to fuel investments in line with its existing approach, which includes companies ranging from early to late stage, and everything in between. Foresite’s approach is designed to help it be uniquely positioned to sh
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(Reuters) - U.S. investment firm Foresite Capital said on Thursday it had raised $969 million to invest in healthcare companies, making it the firm’s largest fundraise to-date.
The announcement comes on the heels of several other large fundraises by venture capital firms that have been looking to tap into a recent boom in the value of high-growth startups.
Investors have been betting the pandemic will push more economic activity online, and increasingly investing in startups that aim to enable the digitization of sectors such as banking, retail and healthcare.
Joshua Kushner’s Thrive Capital earlier this month raised $2 billion for a pair of early and late-stage funds, while last month, VC firm TCV raised $4 billion for its 11th fund, making it the biggest fund in its 25-year history.