UPDATED: Old-hat investors Alta Partners snag $275M for their newest next-gen fund, more than double the first iteration from 2018
Alta Partners has seen it all over the course of more than 20 years in biotech investing, but that doesn’t mean they aren’t still looking to make a splash. Now, the partners are propping up a new $275 million fund to reach for the cutting edge of the field — more than double the size of the team’s initial next-gen fund closed just three years ago.
The San Francisco and Denver-based VC firm initially set a $225 million cap for NextGen Fund III, managing director Peter Hudson told Endpoints News.
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