Advent Life Sciences has closed its Advent Life Sciences Fund II (ALSF II), a GBP145.5 million (USD235 million) venture capital fund raised to seed and build life sciences companies in the UK, Europe and the US.
The fund will back entrepreneurs and early-stage and mid-stage companies with the potential to deliver first- or best-in-class breakthrough products for unmet medical needs.
The fund, which quickly exceeded its target, was raised entirely from independent financial investors including funds-of-funds, pension funds, and family offices.
“We thank our returning and new LPs for the strength of their support, which allowed us to raise the commitments for this fund in a matter of weeks,” says Raj Parekh, general partner. “The interest from LPs and demand for the fund, particularly in current markets, is in large part a recognition of the scientific and medical entrepreneurs, CEOs and management teams whose commitment, vision and energy is enabling our portfolio companies to bring important medical innovations to patients. It is a privilege to work with them.”
