Venture

Alta Partners sketches plans to raise $200M for its next life sciences venture fund

Bob More, Alta

The life sciences investors at San Francisco-based venture firm Alta Partners plans to raise $200 million for its next fund.

Alta, which is led by managing partners Bob More and Dan Janney, filed the latest update on Fund IX with the SEC late last week. While Alta set $200 million as the goal, VCs often enjoy going over self-imposed limits to underscore their popularity with institutional investors.

Dan Janney, Alta

The firm isn’t the largest in biotech, by a long shot, but it has backed some closely-watched companies, including Kite Pharma and Esperion. Over the past 21 years Alta has raised some $2 billion and counts 164 investments and board roles, according to their web site. Last summer Smith & Nephew spinout Bioventus, which included Alta in its syndicate, completed a $150 million IPO.

According to Thomson Reuters, Alta was involved in two biotech rounds in 2016. This latest fundraising comes on the back of a long string of new funds in biotech.


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