Money Keeps Flowing Into Life Science Funds – RiverVest Closes Oversubscribed 184.4 Million Fund

December 18, 2018

On the heels of Versant's announcement of a $100 million life science fund focused on Canadian investments, life sciences venture capital firm RiverVest Venture Partners announced on 12/18/18 the final closing of RiverVest Venture Fund IV, L.P., reaching $184.4 million in capital commitments in an oversubscribed fundraise. RiverVest Fund IV marks the firm’s fourth dedicated life sciences fund, bringing its total assets under management as of Sept. 30 to $753 million.

RiverVest Venture Partners is a venture capital firm focused on identifying and shaping early stage life science companies to create significant shareholder value. With hands-on, high-level expertise and financial resources, RiverVest supports entrepreneurs by helping them achieve near-term objectives that position their companies for exit.

Since its founding, RiverVest has funded 47 and exited or taken public 22 innovative life science companies. A sample of RiverVest Fund II and Fund III exits and IPOs includes:
1) San Carlos-based Allakos, Inc. (NASDAQ:ALLK) (biopharma) completed initial public offering;
2) Cleveland-based Securus Medical Group, Inc. (medical device) sold to Boston Scientific Corporation;
3) Fort Worth-based ZS Pharma, Inc. (biopharma) completed initial public offering, then sold to a subsidiary of London-based AstraZeneca PLC;
4) San Diego-based Lumena Pharmaceuticals, Inc. (biopharma) sold to Dublin-based Shire plc;
5) Houston-based IDEV Technologies, Inc. (medical device) sold to Abbott Laboratories; and
6) Minneapolis-based Lutonix, Inc. (medical device) sold to C.R. Bard, Inc.

“We are pleased that Fund IV exceeded our target,” said RiverVest co-founder and managing director Jay Schmelter. “It enables us to continue executing our strategy for generating top-quartile investor returns.”

Schmelter credits RiverVest’s success to the firm’s focus on developing biopharma and medical device products that treat high, unmet medical needs, while attracting a buyer or being ready for an IPO within three to five years of the initial investment.



CP Wire

Submit an article to cafepharma's CP Wire. Click here to find out more.

current feelings about your job

Please rate how you feel about your job this moment. 1 = "I hate my job" and 7 = "I love my job"
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Fill in the blank.