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Essex Woodlands at almost one-third of $750m target for first pure-growth fundraise

3 Jul 2014

essex woodlandsHealthcare-focused investment firm Essex Woodlands has pulled in more than $220m towards its first fund wholly dedicated to growth equity.

The firm has shifted away from its venture capital background in its past few funds, and hopes to invest solely at the growth stage with the new $750m-targeting vehicle.

A total of eight LPs have backed Essex Woodlands Fund IX to date according to a filing with the US Securities and Exchange Commission.

Eaton Partners is acting as a placement agent for the vehicle, the filing adds.

Essex has already raised more than $2.5bn across eight fund vehicles since it was founded in 1985.

The firm targets deals in the pharmaceuticals, medical devices, healthcare services and healthcare IT.

Essex announced a new office in China in late 2012 to help it focus on the country’s burgeoning medical sector amid rapid middle-class growth.

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