Frazier Healthcare Ventures has closed its sixth fund with $600 million in capital commitments. Its prior fund closed on $475 million in 2004.
Frazier Healthcare Ventures, a healthcare focused venture capital and growth equity investor, today announced the closing of its sixth institutional fund, Frazier Healthcare VI (FH VI). FH VI reached its hard cap of $600 million of limited partner commitments in a first and final close, bringing total capital under management to $1.8 billion. With the closing of FH VI, Frazier Healthcare Ventures continues its leadership position as one of the largest providers of venture and growth equity capital to emerging healthcare companies.
“We are gratified by the overwhelming support from our existing investors and from the select number of highquality investors added to our roster” commented Alan Frazier, Managing Partner. “We believe this strong support is a reflection of our proven strategy of investing in and partnering with the best entrepreneurs in the healthcare industry to develop innovative and sustainable companies.”
Frazier Healthcare has seen nine portfolio companies go public or be acquired in the last fourteen months. In late 2006 and early 2007, three biopharma companies in Frazier Healthcare's portfolios completed IPOs – Cadence, Trubion and Amicus. Additionally, in late 2006 and early 2007, four growth equity companies were acquired – CHG Healthcare was acquired by JW Childs, Aspen Education Group was acquired by CRC Healthcare, Priority Solutions was acquired by Thermo Fisher Scientific, Inc. and MedPointe was acquired by Meda AB. Finally, in 2007, two biopharma companies were acquired – CoTherix was acquired by Actelion LTD and Cerexa was acquired by Forest Laboratories Inc.
FH VI's investment strategy will remain consistent with the strategy employed for FH IV (2001, $404 million) and FH V (2005, $475 million), which have been top performing life science funds. FH VI will continue to invest in three core sectors of the healthcare industry – Biopharma, Medical Device and Healthcare Services – and will invest at all stages of company development including seed and early, late stage and PIPEs and growth equity investments in cash generating businesses. The new fund will enable Frazier Healthcare to scale its growth equity practice while continuing proactive creation of innovative start-up life science companies.
“The increased fund size will enable us to expand the scope of our long-standing growth equity investment activities
as well as enable us opportunistically to take larger positions in our venture portfolio” commented Nader Naini, General Partner.
Frazier Healthcare's general partners are Alan Frazier, Nader Naini, Jamie Topper, Nathan Every, Patrick Heron,
Trevor Moody and Tom Hodge. Bridget Rauvola, Senior Vice President, led the fundraising efforts for FH VI.
About Frazier Healthcare Ventures
Founded in 1991 and with more than $1.8 billion of capital under management, Frazier Healthcare is one of the nation's leading providers of venture and growth equity capital to emerging healthcare companies. Having invested in more than 100 emerging healthcare companies, Frazier Healthcare is well known for its depth of experience and the technical expertise of its investment team. This experience encompasses product development and launch, clinical trial implementation and design, industry operating experience, academic research and clinical practice.
Partnering with Frazier Healthcare provides access to capital and an unparalleled breadth of relevant healthcare industry experience.