Alta Partners Closes NextGen Fund III, at $275M

Alta Partners

Alta Partners, a San Francisco, CA and Denver, CO-based early-stage healthcare venture capital firm, closed Alta Partners NextGen Fund III, L.P., at $275m.

The firm’s limited partners include some of the leading healthcare organizations in the nation, top financial investors, and successful family offices.

The team – which will continue to be run by Managing Directors Dan Janney, Bob More, and Pete Hudson, MD, will continue its strategy of investing in curative, breakthrough therapeutics and technology-enabled healthcare services.

Founded in 1996, Alta has raised over $2.3 billion in venture funds, launched over 70 new drugs, and delivered 118 exits and IPOs creating over $36 billion in value for partners. 

The firm raised NextGen Fund I in 2017, and Fund II in 2019 both funds focusing on a concentrated portfolio of companies working with an outstanding group of entrepreneurs to make broad impacts on disease and healthcare delivery. In the four years since Fund I was closed, the portfolio of early-stage companies invested in by the fund have grown into over $19 billion in enterprise value.

Alta has invested in some leading biotech therapeutics companies, including Allakos, VIR Biotechnology, Be Biopharma, and TYRA Biosciences.