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Versant Ventures closes $400m fund

11 Nov 2005

Healthcare venture capital firm Versant Ventures has closed Versant Venture Capital III, a $400m fund focused on investing in early stage healthcare companies.

In combination with Versant Venture Capital I and Versant Venture Capital II, the firm now manages more than $1bn in capital.

Ross Jaffe, managing director, Versant Ventures, said, ‘Our team of seasoned healthcare investment professionals remains committed to partnering with talented entrepreneurs and exceptional companies to develop breakthroughs in healthcare.’

Versant has also announced the promotion of Kevin Wasserstein to managing director. Wasserstein joined Versant in the firm’s Menlo Park office in 2002.

Versant currently manages over $1bn in committed capital. To date, the firm has invested in more than 65 companies in the medical device, biotechnology and pharmaceuticals, healthcare services and healthcare information technology sectors.

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