Bloomberg is reporting that Bain Capital has raised $900 million for its second fund focused on life sciences. The new fund will make between 15 and 20 investments in companies developing new drugs, medical devices, diagnostics and tools, according to Bain Capital Life Sciences’ managing directors. Bain raised $600 million for its first life science fund in 2017 and has made 15 investments.

Bain's new fund will pursue a number of strategies, including: funding private companies on the verge of going public and companies with drugs in the late stages of development. They plan to $20 million and $100 million per investment. Bain has committed 20% of its own capital to the fund.