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Venrock raises $194 Million for healthcare growth fund
By siliconindia
Palo Alto: Venrock, a premiere venture capital firm originally established as the venture arm of the Rockefeller family, has announced the formation of Venrock Healthcare Capital Partners, a $194 million venture fund dedicated to investments in publicly-held and late-stage private healthcare companies. Venrock holds one of the best known healthcare investment franchises in the industry and with the close of Venrock Healthcare Capital Partners, the firm has approximately $2.2 billion under management.
"In addition to its early stage venture investing activities, Venrock has made several investments in public corporations opportunistically in the past, such as Sirna and World Heart Corporation," said Anders Hove, MD, partner at Venrock. "Our investment approach is uniquely applicable to evaluating publicly-held, small cap healthcare companies as potential investment opportunities and, as venture capitalists, we can provide a valuable outside perspective as strategic advisors."
Venrock helped pioneer healthcare venture capital in the early 1980s and the firm's historical portfolio includes five of the largest U.S. biotech companies ever founded. In the last several years, Venrock successfully brought XenoPort and athenahealth to the public market and played a substantive role in the acquisitions of Sirna Therapeutics by Merck and Adnexus by Bristol Myers Squibb. Venrock has 39 companies in its current healthcare portfolio including Anacor, Ikaria and Ironwood.
Bryan Roberts, partner at Venrock, said, "The healthcare sector continues to be an important area for Venrock as we focus on identifying, financing and building tomorrow's industry leaders."
