US-based venture capital firm VenBio Partners closed its third fund at $394m on Friday, with undisclosed pharmaceutical companies among the limited partners.
Founded in 2011, VenBio Partners invests in life sciences technology developers, generally concentrating on companies working on biopharmaceuticals for unmet medical needs. It typically leads or co-leads rounds and has now secured about $1bn in capital across its funds.
VenBio Global Strategic Fund III’s LPs also include unnamed financial institutions, corporate pension funds, family offices, funds-of-funds, endowments and foundations.
Managing partner Robert Adelman said: “We are grateful for the tremendous support we have received from our current investors during this fundraise. We appreciate their ongoing commitment and welcome the broad range of new top-tier investors who have joined them.”
