Investment firm Longitude Capital has closed its second fund, at $385m.
Longitude Venture Partners II, L.P., which had a target of $325m, will focus on investments in drug development and medical technology.
Led by co-founders and Managing Directors Patrick Enright and Juliet Tammenoms Bakker, Longitude Longitude Capital builds balanced portfolios of mid-stage to commercial-stage companies with clinically de-risked assets that are likely to achieve key value-creating milestones within three-to-five years. Besides traditional venture capital investments, the firm’s investment team – which also include Douglas Foster, Marc-Henri Galletti, Gregory Grunberg, M.D., and David Hirsch, M.D., Ph.D. – also proactively searches for “special situations”, such as spin-outs, recapitalizations, PIPEs and structured transactions, across both privately-held and publicly-traded companies.
Formed in 2006, Longitude Capital offices in Menlo Park, CA and Greenwich, CT.
Probitas Partners acted as exclusive placement agent and financial advisor to the firm in connection with the offering.