Vida Ventures, which describes itself as a next-generation life sciences venture firm announced on 8/1/19 the closing of Vida Ventures II, LLC (“Vida II”), raising $600 million in an oversubscribed fund. Vida II will be used to further the firm’s life sciences platform, which began building a successful track record of investing with its inaugural fund by focusing on companies that change the paradigm of care for patients.
Vida was formed in 2017 by Arie Belldegrun, M.D., FACS, Fred Cohen, M.D., D. Phil, Leonard Potter (representing Wildcat Capital Management), Arjun Goyal, M.D., and Stefan Vitorovic. Vida has seen its unique investment strategy drive significant impact in the space. Under the first fund, which closed in November 2017 with $255 million, the firm has built a robust life sciences portfolio of 14 companies, of which three have completed initial public offerings (IPO) and one investment exited via acquisition, Peloton Therapeutics, which was acquired by Merck for up to $2.2 billion in 2019.
“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 Arie Belldegrun, M.D., FACS, Co-Founder and Senior Managing Director. “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.”
Vida currently has offices in Boston, MA, Los Angeles, CA and San Francisco, CA. It currently has approximately $1 billion under management.