SAN FRANCISCO — Foresite Capital, a multi-stage healthcare and life sciences investment firm, has closed its fourth and largest fund with $668 million in capital commitments.
Since its inception in 2011, Foresite Capital has emphasized a rigorous, data- and science-driven investment approach. The firm now has $2 billion in assets under management.
Limited partners in Fund IV include new investors as well as a significant representation of existing investors, including university endowments, pension funds, insurance companies and foundations. Foresite Capital is led by founder and CEO Dr. Jim Tananbaum. The firm recently announced expansion of its leadership team, with Dr. Vik Bajaj joining managing directors Matt Buten, Dorothy Margolskee, Dennis Ryan, Jim Tananbaum and Brett Zbar.
“At Foresite Capital we’ve brought together a unique value proposition for our portfolio companies. We not only provide capital from seed to public stage, but also a multidisciplinary team of scientists, clinicians, analysts and engineers who collaborate to seek the best data-driven decisions. The ability to ingest and derive meaning from massive amounts of complex information is a critical success factor in healthcare investing,” said Dr. Tananbaum. “We’re pleased by the confidence and enthusiasm our Fund IV investors have demonstrated in the Foresite Capital team, as well as the progress made by our rapidly developing portfolio.”
Since its founding, Foresite Capital has invested in both private and public companies that develop innovative therapeutics, discovery and data science tools, and new approaches to clinical care to address significant unmet patient needs. One focus for increased investment will be companies that apply the tools of data science and machine learning to solve key problems in healthcare and the life sciences. The firm has been making key hires in data science and engineering to support these efforts. Investments that illustrate the strength of Foresite Capital’s portfolio include 10x Genomics, Inc., Intarcia Therapeutics, Inc., and Aerie Pharmaceuticals, Inc. The firm and Dr. Tananbaum have been named in the Midas List of top venture investors for four years in a row, rising each year.
“We are focused on meaningfully improving patient health and well-being. We are privileged to work with creative healthcare and life sciences entrepreneurs, whose efforts continue to advance our understanding of disease and provide innovative approaches to address patient needs,” said Dr. Dorothy Margolskee, managing director of Foresite Capital.