Alta Partners, a specialist in healthcare venture capital, has closed a new USD130 million fund – Alta Partners NextGen Fund I.
This is the ninth fund in Alta Partners’ history and it will focus on the development of novel biotherapeutics and technology-enabled healthcare services. With the new fund’s closing, Alta Partners is reestablishing its position in the healthcare venture industry. Peter Hudson, MD, and Bob More joined Dan Janney as new managing directors at Alta in 2016 to raise this new fund.
“For more than 20 years, Alta Partners has invested in leading healthcare companies driving innovation and improving people’s lives,” says Dan Janney, managing director and a founding partner at Alta. “Bob and Pete bring a commitment to working with world-class entrepreneurs to tackle difficult problems that can make an enduring impact.”
Prior to Alta, More served as senior advisor for The Bill and Melinda Gates Foundation, where he led the Global Health Venture Initiative after working for 20 years in venture capital. Hudson is a physician, entrepreneur, and investor with over two decades of experience founding and growing healthcare-related businesses. With the addition of Hudson and More, the managing directors of Alta Partners NextGen Fund I, collectively have more than 70 years of healthcare company creation and investment experience, adding to the firm’s historical performance of more than 114 mergers, acquisitions and IPOs. Alta’s recent successes include early investments in Esperion Pharmaceuticals, Kite Pharma and ZS Pharma.
This new fund will partner with exceptional entrepreneurs to create companies in two primary areas: application of groundbreaking biotechnologies to cure or radically change disease; and technology-enabled solutions and services that improve delivery and quality of healthcare.
“With USD2 billion in investments raised over nine funds and USD27 billion in created value, Alta Partners has become renowned for its life sciences investments, and we will continue to leverage those successes in our new fund,” says More. “As the healthcare industry experiences unprecedented change in delivery and payment reform, we see tremendous opportunities to impact healthcare with improved solutions.”
Hudson adds: “We are seeking next generation, technology-enabled healthcare solutions. We see data and technology accelerating innovation in all sectors of healthcare delivery, allowing for patient and provider engagement that will create significant efficiencies and drive unprecedented value.”
