Versant Ventures, a global healthcare investment firm, closed its fifth fund at $305m.
Versant Venture Capital V L.P. will continue to invest in innovative biopharmaceutical, medical device, and healthcare services/HCIT companies.
The portfolio will be diversified with investments made across the healthcare sector and at all stages of company development. A primary focus will be on the discovery and development of novel therapeutics. Many of these companies will be launched by Versant and will enter into “build-to-buy” structured acquisitions with strategic partners and its company creation engines, Inception Sciences and Blueline Bioscience.
The remainder of the fund will be dedicated to high potential companies in other healthcare sectors that are in need of growth capital to develop or commercialize their products.
Investments began earlier this year and a number of commitments have already been made, including to Northern Biologics, a company launched by Blueline Bioscience that will develop novel therapeutic antibodies in a strategic partnership with Celgene.