Foresite Sees Plenty Of Investor Interest In Biopharma As It Raises $173m Fund

New Raise Exceeds $150m Goal To Back Incubated Start-Ups

 
• By Mandy Jackson
  
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With its new fund for companies emerging from Foresite Labs, Foresite Capital has raised more than $1bn in new venture capital during the past year to back life science and health care innovation.

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Foresite Labs incubates data science-backed companies • Source: Alamy

Foresite Capital managing director Vikram Bajaj told Scrip that despite the ongoing turmoil for publicly traded biopharmaceutical companies, there are plenty of investors with a long-term view who are willing to put their money behind life science and health care start-ups. In fact, the investment firm’s new $173m fund to support companies emerging from its Foresite Labs incubator exceeded a $150m goal because a lot of investors wanted greater exposure to earlier-stage opportunities, Bajaj said.

With the new fund Foresite unveiled on 3 March, the firm has raised more than $1bn during the past year;...

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