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Life Sciences Venture Investor Foresite Capital Raises $969 Million

Published by

December 5, 2024
(GMT+2)

Life sciences venture investor Foresite Capital has raised $969 million through two new funds after placing successful bets on emerging industries such as biotechnology, genomics and synthetic biology.San-Francisco-based Foresite raised $775 million for its latest venture fund, Foresite Capital Fund V LP, and $193.8 million for another vehicle, Foresite Capital opportunity Fund V LP, which will allow it to make more investments in select companies from the venture fund.Foresite, which previously raised $668 for its fourth fund, is one of several venture firms raising fresh investment pools after taking life sciences startups public of late. Others include ARCH Venture Partners, which recently secured more than $1.85 billion for a biotech fund. Foresite’s recent success include Relay Therapeutics Inc., which uses insights into the dynamic behavior of proteins to develop drugs for cancer and other diseases. Relay went public last year and has a market capitalization of $3.81 billion.

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