Abingworth raises more than £200m for latest fund


life science test tube_sqUK-based venture capital firm Abingworth has raised more than £200m for its sixth fund, AltAssets has learned.

Abingworth Bioventures VI has received commitments of £205.5m from 31 LPs towards its £250m goal, the firm revealed in a document filed with US securities regulators.

Earlier reports said the fund was targeting £200m, while the filing gives the fund’s target as £250m.

Asante Capital Group Advisors serves as a placement agent for the fund, which does not have a minimum investment requirement.

AB VI registered its first commitment in June 2012, according to the filing.

Abingworth has provided funding to more than 100 unlisted life sciences businesses, of which two third have gone public or have been acquired.

The firm provides venture and growth capital and invests in publicly listed companies in the life sciences and healthcare sectors.

It buys majority and minority stakes for $20m to $80m in US, UK and Europe-based businesses with a holding period of three to eight years.

Earlier this month the firm led a $22m Series B round for Menlo Park-based startup Personalis, which provides medical exome and genome sequencing and interpretation services.

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