Burrill & Co., a San Francisco, CA-based life sciences investment firm, has held the first close of its Burrill Brazil Fund I at $125m.
According to a written statement, on January, 9, the company has obtained the necessary approvals from Brazilian authorities to begin operations, which will be led by Joao Paulo Poiares Baptista, Managing Director of Brazil for Burrill & Company.
The fund will focus on investing in the life sciences in Brazil, including early- to late-stage investments in therapeutics, diagnostics, medical devices, healthcare services, biofuels and digital health.
The vehicle, which has a total target of $200m for its second close, includes investment from private institutions, multinational organizations, government agencies and life sciences companies. In this first phase, it attracted two Brazilian global leaders within the pharma and biotech industries and two of the most important multilateral organizations of the region.