Vida Ventures, a Boston, MA-based next-generation life sciences venture capital firm, closed Vida Ventures II, LLC, at $600m.
Vida II investors include members of the Vida team, investors from the inaugural fund, top-tier endowments, foundations, family offices, funds-of-funds, and notable individuals across the U.S. and overseas.
The fund will be used to further the firm’s life sciences platform, which began building a track record of investing with its inaugural fund by focusing on companies that change the paradigm of care for patients.
Formed in late 2017 by Arie Belldegrun, M.D., FACS, Fred Cohen, M.D., D. Phil, Leonard Potter (representing Wildcat Capital Management), Arjun Goyal, M.D., and Stefan Vitorovic, Vida leverages scientific and clinical skills, industry network, operating and investing experience to build life science companies and provide funding for companies across research and development stages.
Under the first fund, which closed in November 2017 with $255mn, the firm has built a life sciences portfolio of 14 companies (Allogene Therapeutics (Nasdaq: ALLO), Asklepios BioPharmaceutical, Kronos Bio, A2 Biotherapeutics, Bait Therapeutics, Homology Medicines, Kadiant, Neogene Therapeutics, Oyster Point Pharma, Pionyr Immunotherapeutics, Praxis Precision Medicines, Precision Medicine Group, and Sutro Biopharma), of which three have completed initial public offerings (IPO) and one investment exited via acquisition, Peloton Therapeutics, which was acquired by Merck for up to $2.2 billion in 2019.
In anticipation of Vida II, the firm also announced the expansion of its team of experts with Helen S. Kim, Rajul Jain, M.D., Heba Nowyhed, Ph.D., and Eric Trac, M.D. With the close of this fund, Vida has approximately $1 billion under management in less than two years since inception.
Strategic advisors in the firm include Joshua Kazam, David Tanen and David Chang, M.D., Ph.D.
It currently has offices in Boston, MA, Los Angeles, CA and San Francisco, CA.
FinSMEs
01/08/2019