SV Life Sciences has raised well over half of the $400 million it announced it was seeking last year for its sixth life science upstart fund--but this falls below previous targets that have been around the $500 million mark.
The VC firm, which has offices in Boston and London, has so far raised $274 million, according to federal filings--but is still off its 2015 stated goal of reaching $400 million. Its previous round, which closed back in 2010, raised $523 million.
With that purse, SV took stakes in the ophthalmology-focused KalVista Pharmaceuticals, dermatology biotech Thesan Pharmaceticals and oncology innovator Sutro Biopharma, among others.
Over the past two years, the firm has seen Entellus Medical ($ENTL) execute a $78 million IPO, Convergence Pharmaceuticals go to Biogen ($BIIB) for up to $675 million and OncoEthix get bought by Merck ($MRK) in a $375 million deal.
SV Life Sciences now has about $2 billion under management. There are 24 investors in the latest fund, according its SEC filing.
- check out the SEC Form-D
SV Life Sciences sets out for $400M to fuel biotech bets