InterWest closes $650M fund

Life science VC firm InterWest Partners has closed a $650 million fund. The money will be invested in emerging life sciences and information technology investments. The group aims to invest in 25 to 30 new companies, and will focus on early-stage companies in the U.S.

"For 29 years InterWest has been making successful investments by combining the deep domain experience of our investment team with the vision of outstanding entrepreneurs," said Dr. Arnold L. Oronsky, general partner at InterWest. "We take pride in our collaborative approach to working with portfolio companies to develop important life sciences and IT products that produce thriving businesses." In addition to closing the fund, InterWest announced that Chris Ehrlich, Nina Kjellson and Doug Pepper have been promoted to general partner.

- check out InterWest's release