Frazier Healthcare closes $377 mln for seventh fund

Frazier Healthcare has raised $377 million for its seventh fund. The pool’s initial target was $300 million.  Also, the company has promoted Brian Morfitt  to general partner and Ben Magnano to partner. Based in Menlo Park, Calif. and Seattle, Washington, Frazier Healthcare is a growth buyout and venture capital firm focused emerging healthcare service and biopharma companies.

PRESS RELEASE

September 30, 2013 – Frazier Healthcare, a leading provider of growth buyout and venture capital toemerging healthcare companies, announces the closing of its seventh healthcare fund, Frazier Healthcare VII (FH VII). FH VII surpassed its target of $300 million with commitments of $377 million. FH VII investors are comprised of corporate and public pension plans, foundations, endowments, and fund of funds.
“We are very appreciative of the support that we received from existing limited partners and pleased to have brought in a number of high quality new limited partners into FH VII” comments Jamie Topper, General Partner and co-lead of Frazier’s Biopharma Venture practice.
In conjunction with Frazier Healthcare VII’s closing, Brian Morfitt will be promoted to General Partner and Ben Magnano will be promoted to Partner. Brian joined Frazier in 2003 from Summit Partners and Ben joined Frazier in 2006 from Morgan Stanley Venture Partners. Both individuals have contributed significantly to the formation and success of several growth buyout investments. In addition, Dan Estes will be promoted to Vice President. Dan joined Frazier in 2011 from McKinsey & Company and is a member of Frazier’s Biopharma team. He has been instrumental with assisting in the review and investment of several portfolio companies such as Semnur Pharmaceutical and Atterocor where he is a board observer.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of growth buyout and venture capital to emerging healthcare service and biopharma companies. With over $2 billion under management across seven funds, Frazier Healthcare has invested in more than 150 companies across the entire developmental spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies. For more information about Frazier Healthcare, visit the company’s website at www.frazierhealthcare.com.

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