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Laxman Pai, Opalesque Asia: Boston-based RA Capital Management said that it had closed its inaugural venture fund, RA Capital Nexus Fund (Nexus), at $308m to target life science investing.
The multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies said in a press note that the new fund boosts its private deal capacity to nearly $1bn and total assets under management to about $2.5bn.
Nexus is expected to participate in substantially all investments in private companies made by RA Capital alongside its main, longstanding fund, RA Capital Healthcare Fund.
"This is a unique time and place in biotech history. As an industry, our ability to turn breakthrough science into transformative improvements in human health is unprecedented. Our team is honored to play an ongoing role in this ecosystem," said Managing Director Josh Resnick.
Venture investing is an important part of RA Capital's strategy. RA Capital has made over 100 private company investments since 2012, and has, in recent years, begun building companies from scratch.
RA Capital pursues a multi-stage approach, which spans new company formation, venture financing, and public investing.
The investment process is led by RA Capital's Managing Director group, which includes Portfolio Managers Peter Kolchinsky and Raj Shah, Co-Heads of Venture Josh Resnick and Andrew Levin, and nine other professionals.
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