Life sciences venture capital firm venBio secured about $528 million in capital commitments for the venBio Global Strategic Fund V. The fund raising, which began in mid-April, exceeded its initial target and was oversubscribed at the final close.
A diverse group of institutional investors flocked to the fund, including sovereign wealth funds, corporate pensions, university endowments, medical institutions, foundations, family offices and funds-of-funds.
Coming just days after Amulet Capital Partners closed its third fund with $1.2 billion to pump into high-growth subsectors within life sciences, venBio’s announcement may indicate that investors are ready to jump back into the formerly red-hot sector.
Under the leadership of Managing Partners Dr. Richard Gaster, Dr. Corey Goodman and Dr. Aaron Royston, Fund V will stick to venBio’s focus on biopharmaceutical companies developing treatments for unmet medical needs. venBio takes a hands-on approach, providing strategic guidance across research, clinical and business activities to portfolio companies. The firm seeks out opportunities that can provide meaningful clinical data and value within three to five years.
“With a highly concentrated portfolio and active involvement in each company, we are proud to have helped build companies that have achieved nine FDA drug approvals over the past six years, with many more generating promising clinical efficacy and safety data,” said Dr. Royston. He added that this success has generated significant value for venBio and its partners.
Dr. Goodman emphasized the impact of their portfolio on patient lives, stating, “Fund V is structured to enable us to continue our proven approach of being highly selective in company building, while doubling down on winners around key inflection points, including in crossover rounds and at IPO.”
Since its inception in 2011, venBio has raised approximately $2 billion in capital commitments and led investment rounds in over 40 companies. Notable exits include Aragon Pharmaceuticals (acquired by Johnson & Johnson), Labrys Biologics (acquired by Teva), Seragon Pharmaceuticals (acquired by Roche), Checkmate Pharmaceuticals (acquired by Regeneron), Turning Point Therapeutics (acquired by BMS) and CinCor Pharma (acquired by Astra Zeneca).