The Psilos Group, a healthcare focused VC, is looking to raise $400 million with its latest fund, three sources say.
Psilos held a first close in December of roughly $50 million, one of the sources say. The target for fund IV is $450 million, that person says.
Founded in 1998, Psilos currently has $585 million under management. The firm’s third fund, Psilos Group Partners III LP, raised $303 million in 2007.
Psilos, which has offices in New York, Corte Madera, Calif., and Santa Fe, N.M., invests in healthcare services, healthcare information technology and medical technology. The VC firm typically puts in from $8 million to $15 million per deal and expects to invest up to $20 million to $25 million over the life of an investment, according to the Psilos web site.