Longwood pulls in $70m for Fund V, revises goal


Healthcare-focused Longwood Fund has raised over $70m of commitments for its latest venture fund, as it looks to surpass its initial fundraising goal.

Longwood Fund V has secured capital commitments from 34 limited partners so far, according to a filing submitted to the United States Securities and Exchange Commission this week.

The Boston-based firm registered to raise up to $75m for Fund V in a previous filing, but now appears to have increased its goal to $100m in the new documents.

The VC firm set its sights on $90m for the fund’s predecessor in 2016, but has yet to announce a final close for Fund IV.

Longwood closed its first fund at $85m Back in December 2010. Four years later, AltAssets reported that Fund II had collected $66.6m towards the $80m target however, it is unclear what amount that fund closed at.

Longwoood’s third fund launched with a $90m total offering according to a regulatory filing dated 2015 however, the firm have not revealed a final close.

The firm typically looks to manage, and build biotechnology companies with breakthrough science and the potential to create important new medicines. Longwood’s previous investments have included Renovia, Axial Biotherapeutics and ArcherDX.

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