Looks like BioVentures is in the midst of raising a new $100M fund

Hey, life science startups: Looks like Massachusetts investment firm BioVentures is raising a new venture fund – and has raised about $20 million of a potential $100 million pot, according to a regulatory filing. Historically, the fund’s been focused heavily on medtech investments, with dollars also poured into therapeutics and diagnostics. No reason to assume […]

Hey, life science startups: Looks like Massachusetts investment firm BioVentures is raising a new venture fund – and has raised about $20 million of a potential $100 million pot, according to a regulatory filing.

Historically, the fund’s been focused heavily on medtech investments, with dollars also poured into therapeutics and diagnostics. No reason to assume otherwise with this fund. Some of its portfolio companies include Enanta Pharmaceuticals, Claros Diagnostics (acquired by OPKO Pharmaceuticals in 2011 for $49 million), and Hydra Biosciences.

“Although we occasionally back raw technology with great promise and superior pedigree, our preferred stage of investment is after the formation of the company, the hiring of management, early proof-of-concept experiments, and the drafting of an extensive business plan,” the investors say on BioVentures’ website.

The venture firm typically invests $3 million to $10 million, it says, and does operate like your typical VC, however:

 

“Generally, we like to see a business plan that calls for total capital requirement of $15 million to $20 million to reach a monetizing opportunity in less than five years, usually at the conclusion of R&D activity,” the firm says.

BioVentures is a smaller investment firm; its last two fundraises seemed to be in 2002 and 2007. It says with three funds – the new one’s the fourth – it has more than $133 million under management.

BioVentures is made up of three general partners – Peter Feinstein, Walter Gilbert and Marc Goldberg. With its fourth investment fund, it brings on Jeffrey Barnes as a partner as well.

Calls and emails to BioVentures about the status of the fund raise were unanswered.