- Next-generation life sciences venture firm Vida Ventures recently announced it secured $600 million for the Vida Ventures II fund
Next-generation life sciences venture firm Vida Ventures recently announced that it more than tripled its assets under management in under two years to approximately $1 billion based on the success of its inaugural fund and a focus on funding transformational science. And the venture firm also announced it raised $600 million in an oversubscribed fund for Vida Ventures II.
Vida II is going to be used to further the firm’s life sciences platform — which started building a successful track record of investing with its inaugural fund by focusing on companies that have been fundamentally improving care for patients.
The Vida II fund investors include members of the Vida team investors from the inaugural fund, major endowments, foundations, family offices, funds-of-funds, and notable individuals across the U.S., and overseas. In anticipation of Vida II, Vide Ventures also announced it expanded upon its team of experts with Helen S. Kim, Rajul Jain, M.D., Heba Nowyhed, Ph.D., and Eric Trac, M.D.
Vida utilizes its scientific and clinical skills, extensive network, and operating and investing experience to build life science companies and provide funding for companies across R&D stages. Launched in late 2017 by Arie Belldegrun, MD, FACS; Fred Cohen, M.D., D. Phil; Stefan Vitorovic; Arjun Goyal, M.D.; and Len Potter (representing Wildcat Capital Management), Vida has seen its unique investment strategy drive significant impact in the industry.
“The successful fundraise for Vida II and the speed with which we were able to close the fund reflects Vida’s high-quality team and the success of our inaugural fund,” said Dr. Belldegrun. “Life sciences has become one of the most dynamic industries and a focal point for venture firms. Vida maintains a unique advantage by combining a best-in-class investment team with first-hand business and scientific expertise that directly applies to our portfolio investments. With the added expertise from our newest team members, we are positioned better than ever before to add value by identifying and investing in meaningful science that ultimately has the potential to help patients in need.”
Under the first fund — which has closed in November 2017 with $255 million — the firm has built up a robust life sciences portfolio of 14 companies, of which three have completed IPOs and one investment exited via acquisition (Peloton Therapeutics — acquired by Merck for up to $2.2 billion).
“Our platform allows us to be flexible in our investment style. As a result of our deep and varied network, we are able to see a vast pipeline of investment prospects and the opportunity to back market leaders in achieving their next phase of development. This incredible support we have received from our investor community for Vida II will enable us to further our mission to transform biomedical innovations into therapies,” added Vida Ventures co-founder and Senior Managing Director Dr. Cohen.
