New fund raises total assets under management to $2B as firm expands its data- and science-driven investment approach
SAN FRANCISCO–(BUSINESS WIRE)–Foresite Capital, a multi-stage healthcare and life sciences investment firm, today announced it has closed its fourth and largest fund with $668 million in capital commitments. With the closing of Fund IV, Foresite Capital continues its rapid emergence as a leading healthcare investment firm, following the founding of the firm in 2011 and the closing of Foresite Capital Fund I in 2013. Since its inception, Foresite Capital has emphasized a rigorous, data- and science-driven investment approach. The firm now has $2 billion in assets under management.
Limited partners in Fund IV include new investors as well as a significant representation of existing investors, including university endowments, pension funds, insurance companies and foundations. Foresite Capital is led by founder and CEO Dr. Jim Tananbaum. The firm recently announced expansion of its leadership team, with Dr. Vik Bajaj joining managing directors Matt Buten, Dorothy Margolskee, Dennis Ryan, Jim Tananbaum and Brett Zbar.
“At Foresite Capital we’ve brought together a unique value proposition for our portfolio companies. We not only provide capital from seed to public stage, but also a multidisciplinary team of scientists, clinicians, analysts and engineers who collaborate to seek the best data-driven decisions. The ability to ingest and derive meaning from massive amounts of complex information is a critical success factor in healthcare investing,” said Dr. Tananbaum. “We’re pleased by the confidence and enthusiasm our Fund IV investors have demonstrated in the Foresite Capital team, as well as the progress made by our rapidly developing portfolio.”
Since its founding, Foresite Capital has invested in both private and public companies that develop innovative therapeutics, discovery and data science tools, and new approaches to clinical care to address significant unmet patient needs. One focus for increased investment will be companies that apply the tools of data science and machine learning to solve key problems in healthcare and the life sciences. The firm has been making key hires in data science and engineering to support these efforts. Investments that illustrate the strength of Foresite Capital’s portfolio include 10x Genomics, Inc., Intarcia Therapeutics, Inc., and Aerie Pharmaceuticals, Inc. The firm and Dr. Tananbaum have been named in the Midas List of top venture investors for four years in a row, rising each year.
“We are focused on meaningfully improving patient health and well-being. We are privileged to work with creative healthcare and life sciences entrepreneurs, whose efforts continue to advance our understanding of disease and provide innovative approaches to address patient needs,” said Dr. Dorothy Margolskee, managing director of Foresite Capital.
About Foresite Capital
Foresite Capital is a multi-stage healthcare and life sciences investment firm that applies rigorous scientific and data-driven approaches to investment analysis. The firm has $2 billion under management. Foresite Capital takes a collaborative approach to investing with its portfolio companies by providing a multidisciplinary team of scientists, engineers, analysts, and clinicians who understand the unique business models in healthcare in addition to capital. The company aims to address areas of great unmet clinical need over the long term by funding promising healthcare and life sciences businesses at all stages of their life cycles. Its portfolio also emphasizes companies that are employing the tools of data science and machine intelligence in healthcare. Foresite Capital is based in San Francisco with an office in New York. For more information, please visit www.foresitecapital.com.