Versant Ventures, a healthcare investment firm, closed two funds, totalling $700m.
– Versant Venture Capital VII, a $600m primary biotech fund, and
– Versant Voyageurs I, a $100m Canadian companion fund.
Both funds exceeded their initial targets and were supported by existing investors and a select number of new top-tier limited partners.
Versant Venture Capital VII – global biotech fund
Fund VII will be allocated across 20 or more biotechnology companies in the U.S., Canada and Europe focused on translating breakthrough innovation into the next generation of therapeutics targeting the most important unmet medical needs. Versant expects more than half of the Fund VII portfolio companies will be created de novo by working directly with talented entrepreneurs or through the firm’s existing Discovery Engines that support about 100 scientists and extend across North America and Europe.
Versant Voyageurs I – Canadian companion fund
Voyageurs will be deployed across five to eight startup companies with Canadian operations. The fund will be invested side by side with Versant’s primary biotech funds and will leverage the firm’s proven strategy and extensive global network to allow Canadian companies to compete with those built in innovation hubs that have a more well-established venture capital ecosystem.
Managing directors for both funds include Dr. Bolzon, Jerel Davis, Ph.D., Clare Ozawa, Ph.D., Tom Woiwode, Ph.D., and CFO Robin Praeger.