Versant Ventures, an early-stage health care venture capital firm with offices in Menlo Park and Newport Beach, California, has closed Versant Venture Capital IV with USD500m in commitment
Versant Ventures, an early-stage health care venture capital firm with offices in Menlo Park and Newport Beach, California, has closed Versant Venture Capital IV with USD500m in commitments. The firm now has USD1.6bn in funds under management and investments in 75 portfolio companies in the biotechnology, pharmaceuticals and medical devices sectors.
‘We are proud to continue to partner with visionary entrepreneurs who are building companies that are transforming health care,’ says managing director Brian Atwood. ‘An extraordinary number of clinical needs remain unmet, and we look forward to continuing to be a springboard for these meaningful innovations.’
Versant IV will target between 30 and 35 medical device, biotech, and pharmaceutical investments throughout the US. While the fund’s investments will focus primarily on early-stage and seed opportunities, it may also target a limited number of later-stage companies.
Kevin Wasserstein, another Versant managing director, adds: ‘The USD500m fund size will enable us to support a full range of entrepreneurial initiatives, from a few hundred thousand dollar seed to a USD20m investment over the full life of the company.’
Versant IV’s other managing directors are Brad Bolzon, Sam Colella, Ross Jaffe, Bill Link, Robin Praeger, Beckie Robertson, Camille Samuels and Charles Warden, and the investment team also includes principal Kirk Nielsen and associate Sammy Farah.
Since its establishment in 1999, Versant has invested in some 95 health care companies including LipoSonix, St. Francis Medical Technologies, NovaCardia, Pharmion and Eyeonics, as well as now-public companies including Genomic Health, Insulet and Cadence Pharmaceuticals.
