Domain Associates, a healthcare-focused VC firm, has closed its eighth fund with $500 million in capital commitments. It reportedly had targeted $700 million, which is the same amount it raised for its seventh fund back in 2006.
Domain Associates, LLC (www.domainvc.com) of Princeton, NJ and San Diego, CA is pleased to announce the closing of Domain Partners VIII, LP, a $500 million venture capital fund devoted exclusively to the life sciences industry.
Domain will continue to focus on early stage companies in the drug and device sectors with a meaningful portion of its efforts going towards the diagnostics and instrumentation sectors.
The company has a long track record of success in these sectors including previous investments in companies such as:
BiPar (sold to Sanofi-aventis)
GeneOhm Sciences (sold to Becton-Dickinson)
In addition to investing in existing early stage companies, Domain has a rich tradition of company creation and intends to continue these efforts with the new fund. Domain created companies include Cadence (CADX), Cerexa (sold to Forest Laboratories), Peninsula (sold to Johnson and Johnson), Orexigen (OREX), Pharmion (sold to Celgene), and Volcano (VOLC).
The investment team at Domain consists of Partners Jim Blair, Brian Dovey, Brian Halak, Dennis Podlesak, Jesse Treu, Nicole Vitullo, and Eckard Weber; Principals Todd Brady, Kim Kamdar, Debbie Liebert, and Nim Shah; Associate Adair Newhall; Analyst Eric Heil; and Kauffman Fellow Racquel Bracken. The Finance & Administrative team at Domain is led by Partner Kathleen Schoemaker, and includes Controller Lisa Kraeutler, and Assistant Controller Leena Gandhi.
Domain Associates, LLC was formed in 1985 to permit its founding partners to continue to serve as the U.S. Advisor to Biotechnology Investments Ltd, the first life science focused venture investment fund. BIL counted among its initial investments several of today’s dominant life science companies, including Amgen, Applied Biosystems, and Genzyme. Over the past 24 years Domain has now raised eight Domain Partners funds with assets exceeding $2.7 Billion. These funds have created and invested in over 200 life science companies.
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