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Laxman Pai, Opalesque Asia: The Palo Alto-based venture firm Frazier Life Sciences has closed a new venture capital fund for startup creation and investing in early-stage biotechnology companies, raising $1.3 billion.
The oversubscribed fund - Frazier Life Sciences XII (FLS XII) - received strong support from both longstanding and new limited partners, said a press release from the longstanding investment firm focused on innovative therapeutics.
Consistent with prior FLS venture funds, FLS XII will primarily invest in company creation and early-stage private biopharmaceutical companies.
"We appreciate the continued support of our limited partners, many of whom have been with us since the launch of our first dedicated venture fund in 2016," said Patrick Heron, Managing Partner at Frazier Life Sciences.
"With FLS XII, we look forward to continuing to work with exceptional entrepreneurs to advance therapeutic programs with the potential to address significant medical needs," Patrick added.
Frazier Life Sciences has raised over $3.6 billion across five dedicated venture funds since 2016, alongside more than $1.7 billion raised in long-only public funds since 2021.
The FLS team includes seven investment partners and a growing group of over 35 investment professionals, operating professionals, and senior advisors with broad biopharmaceutical experience across therapeutic areas and company stages, said the release.
The firm takes a hands-on, collabora...................... To view our full article Click here
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