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Alternative Market Briefing

Longitude Capital raises $585m in its largest-ever fund

Thursday, September 24, 2020

Laxman Pai, Opalesque Asia:

Health-care venture capital firm Longitude Capital has rounded up its largest fund yet after having a string of portfolio companies go public or be acquired, raising $585 million to invest in biotechnology and other medical startups.

"The Longitude Venture Partners IV (LVP4) will build on the proven strategy of its predecessor funds by investing in biotechnology, medical technology, and health solutions companies that seek to transform the healthcare industry," said a press release from the US-based venture investor.

The co-founders and co-managing directors of Longitude Capital Marc Galletti and Patrick Enright like to invest in what they call "transformative healthcare companies."

"We are a venture capital firm committed to transforming healthcare by collaborating with entrepreneurs and companies seeking to do three primary things: improve clinical outcomes, enhance patient quality of life and increase the efficiency of healthcare delivery," Galletti said of their strategy.

LVP4 is the largest since the company's founding in 2006 and a 10% monetary increase over its previous fund, which totaled $525 million.

The firm's key differentiators rest on four pillars, Galletti explained: an "opportunistic investment strategy" that allows it the flexibility to invest across companies' life cycles; its track record of investing in special situations such as spinouts, recapitalizations, and certain public companies; its team; and its ......................

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