River­Vest off to the races with $275M to in­vest in ear­ly-stage biotech

River­Vest Ven­ture Part­ners has closed its largest fund yet, with $275 mil­lion to in­ject in­to ear­ly-stage drug and med­ical de­vice de­vel­op­ers.

The fifth fund — closed just over two years af­ter the fourth — brings River­Vest’s to­tal as­sets un­der man­age­ment to more than $1.6 bil­lion, the firm said on Wednes­day.

“Fund V’s larg­er size will en­able River­Vest to par­tic­i­pate more ful­ly in lat­er eq­ui­ty rounds of port­fo­lio com­pa­nies which have the great­est po­ten­tial,” co-founder and man­ag­ing di­rec­tor Jay Schmelter said in a state­ment.

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