Healthcare growth equity firm Foresite Capital has raised $450 million for its oversubscribed third fund. Foresite Capital Fund III will focus on healthcare products, technologies and services that have “the potential to significantly improve patient outcomes while decreasing the cost and burden of human disease.” As a result of the closing of this vehicle, Foresite Capital is now managing more than $1 billion in assets.
SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Foresite Capital, a healthcare growth equity firm, today announced the closing of Foresite Capital Fund III, which was oversubscribed and closed with $450 million in capital commitments. Foresite Capital will continue to execute its strategy of financing emerging leaders across all healthcare sectors in both the private and public markets, with the goal of transforming patient care. With the close of Fund III, Foresite Capital has more than $1 billion in assets under management.
“The healthcare sector is experiencing unprecedented innovation including leaps forward in our understanding of the biology of cancer and other diseases. We believe these advances along with insights in translational medicine will lead to better patient outcomes, lower costs, and some of the most impactful medical solutions we’ve seen in decades,” said Jim Tananbaum, founder and CEO of Foresite Capital. “Our portfolio reflects this innovation across disease areas including oncology, metabolic disease, neurology, ophthalmology and orphan diseases, as well as genomics and medical devices.”
Consistent with prior funds, Foresite Capital Fund III seeks to invest in novel products, technologies and services that have the potential to significantly improve patient outcomes while decreasing the cost and burden of human disease. Foresite Capital’s strategy includes working closely with management to develop complete financing solutions to meet the needs of individual companies and to help accelerate growth.
Fund III follows Fund II, a $300 million fund raised in 2014, and Fund I, a $100 million fund raised in 2013. Foresite Capital has also invested through numerous special purpose vehicles. “We are grateful for the strong interest from our existing and new investors, and the continued support of our investment approach from both investors and entrepreneurs,” continued Dr. Tananbaum. “We believe the healthcare landscape will continue to transform over the next decade and we remain focused on concentrating our human and financial resources on leading entrepreneurs with transformative products.”
Foresite Capital Team
Foresite Capital is led by a multidisciplinary and highly experienced team, with expertise and networks in finance, clinical development, product development, commercialization, and private and public healthcare investing. Additional Managing Directors include investment professionals Christine Aylward, Matt Buten, Dorothy Margolskee, and Brett Zbar, and Chief Financial Officer Dennis Ryan.
About Foresite Capital
Foresite Capital provides growth capital to emerging healthcare leaders with disruptive products and services across all healthcare sectors in both the private and public markets. The firm is based in San Francisco, CA with an office in New York, NY.