SF ven­ture fund Al­ta Part­ners miss­es orig­i­nal mark, rais­ing $130M for ninth fund

Com­ing quite a bit short of their orig­i­nal tar­get, the life sci­ence in­vestors at San Fran­cis­co-based ven­ture firm Al­ta Part­ners said Wednes­day they’ve closed $130 mil­lion for their newest fund.

Back in Feb­ru­ary, we re­port­ed Al­ta was look­ing to raise $200 mil­lion, as re­flect­ed in the firm’s first SEC state­ment at the time.

Al­ta Part­ners isn’t the largest VC 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 its part­ners have over­seen more than 114 merg­ers, ac­qui­si­tions, and IPOs. Last sum­mer Smith & Nephew spin­out Bioven­tus, which in­clud­ed Al­ta in its syn­di­cate, com­plet­ed a $150 mil­lion IPO.

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