Global healthcare investment firm Versant Ventures closed of its newest fund, at $400m.
Versant Venture Capital VI, supported by existing and new limited partners, will use its strategy to find, form and fund innovative healthcare companies with an emphasis on novel therapeutics.
The fund will invest in 20-25 biotechnology companies in the U.S., Canada and Europe, expecting to make its initial investment in the first quarter of 2017.
One third of the investments of new vehicle are expected to be derived from its three internal discovery engines and collaborations with numerous academic institutions and pharmaceutical company partners, which currently house more than 80 research scientists and now extend across several regions.
They include Blueline Bioscience in Toronto, Highline Therapeutics in New York, and Inception Sciences in San Diego, Vancouver and Montreal.
Managing directors for Fund VI are Dr. Bolzon, Jerel Davis, Ph.D., Kirk Nielsen, Tom Woiwode, Ph.D., and CFO Robin Praeger.