With ~ $4B in assets under management, Foresite Capital raises its largest offering to invest in companies addressing the greatest unmet needs within the healthcare industry
Foresite Capital, a multi-stage healthcare and life sciences investment firm, today announced it has closed its fifth and largest fundraise with $969 million in capital commitments, significantly oversubscribed above its original target. The offering comprises Foresite Capital Fund V, L.P. and Foresite Capital Opportunity Fund V, L.P. With these new funds, Foresite Capital is investing in emerging healthcare and life sciences companies at all stages that are solving some of the biggest inefficiencies and pain points of the $10 trillion global healthcare market. Foresite Capital now has ~$4 billion in assets under management.
Foresite Capital is a leader in healthcare and life sciences investing, having spent nearly a decade focused solely on the fastest growing and most transformational companies within the industry, including 10x Genomics, Element Biosciences, Lyell Immunopharma, Inscripta, Relay Therapeutics, Gemini Therapeutics, and more. Fund V builds upon the success of Foresite Capital’s $668M Fund IV and previous three funds, which have generated more than 37 IPOs to-date. Among those is Kinnate Biopharma, which Foresite incubated and helped scale to IPO within three years.
Since its inception in 2011, Foresite Capital has emphasized a rigorous, data and science-driven investment approach. The firm provides its portfolio companies with deep guidance and technical support through its extensive team of in-house former industry executives, data scientists, geneticists and biomedical researchers. With 27 MDs and PhDs on its team, Foresite Capital works closely with the companies it invests in to help guide their products to commercial success.
"The COVID-19 pandemic has put a spotlight on the vulnerability and inefficiency of our healthcare systems. We believe that many of the household healthcare brands of the future will emerge from this crisis, and Foresite Capital will be there to support them," said Jim Tananbaum, founder and CEO of Foresite Capital. "We are excited to continue working with founders to build the future leaders of the health economy."
Foresite Capital is led by CEO and founder, Dr. Jim Tananbaum. The firm recently expanded its leadership team, promoting Dr. Michael Rome and adding Alisa Mall as managing directors. The new additions bring extensive experience from leading financial and life sciences organizations. With Fund V, Foresite Capital plans to invest in companies, spanning all stages, that are focused on therapeutics, life science infrastructure and individualized healthcare. Limited partners in Fund V include a broad range of investors, among them university endowments, public and private pension funds, insurance companies, foundations, corporate investors and prominent individuals and families worldwide.
In October 2019, Foresite Capital launched Foresite Labs, an incubator that builds and scales transformative companies at the intersection of data science and healthcare. Run by Dr. Vik Bajaj, the former chief scientific officer of GRAIL and the co-founder and former chief scientific officer of Verily (formerly Google Life Sciences), Foresite Labs aims to solve questions surrounding next-generation therapeutics and healthcare services to ultimately improve patient outcomes. Foresite Labs is currently incubating five companies.
About Foresite Capital
Foresite Capital is a multi-stage healthcare and life sciences investment firm with ~$4 billion under management. The firm aims to address areas of great unmet need by funding promising healthcare and life sciences businesses at all stages of their life cycles. Foresite Capital uses a data science-driven approach to invest in companies that leverage biology and big data to transform healthcare, including 10x Genomics, Relay Therapeutics, Element Biosciences, Inscripta, as well as companies developing next generation therapeutics. Founded in 2011, Foresite Capital is based in San Francisco. For more information, please visit www.foresitecapital.com.
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