Click here for printer friendly page
Skyline closes $350m healthcare venture capital fund14/11/2007. Source: AltAssets. 
 US firm Skyline Ventures has closed its latest fund, Skyline V, on $350m. Skyline launched the fund in late June and closed it on its hard cap in late October, according to a statement.
Skyline's new fund is expected to build a portfolio of approximately 15 businesses with investments in the $15-35m range per portfolio company over the life of the investment. The fund will continue the approach Skyline has been using since raising its third fund in 2001 of investing in early stage, mid stage and later stage companies.
Skyline has co-led an investment in Dicerna Pharmaceuticals - the first commitment from itse new fund.
John Freund, managing director at Skyline, said, 'The closing of the new fund marks a very successful year for Skyline. Over the past 12 months, three of our portfolio companies were sold - Avidia to Amgen in late 2006, and NimbleGen to Roche and NovaCardia to Merck this year. In addition, four portfolio companies went public. These were Hansen Medical in late 2006, and Sirtris Pharmaceuticals, MAP Pharmaceuticals and Targanta Therapeutics this year. We also expanded our team, opening an office in the Boston area in May, and that part of the country will continue to be a major focus for our investing.'
Skyline specialises in investing in healthcare companies. Its areas of expertise include small molecule and protein therapeutics, medical devices, diagnostics, and technologies that facilitate drug discovery and life science research.
Skyline now has approximately $800m under management.
Copyright © 2007 AltAssets
|
