Longitude Capital Closes $525 Million Fund for the Life Sciences
MENLO PARK, Calif. and GREENWICH, Conn., June 7, 2016 /PRNewswire/ -- Longitude Capital, a private investment firm focused on venture growth investments in biotechnology and medical technology, today announced the closing of Longitude Venture Partners III, L.P. ("LVP3") with $525 million in partner commitments, exceeding the Fund's target of $450 million. With this third fund, Longitude Capital managed funds have now secured over $1.2 billion in aggregate capital commitments.
"Our venture growth strategy in life sciences is rooted in building a balanced portfolio primarily of clinical-stage and commercial-stage companies at what we believe are favorable valuations that can generate attractive expected returns within three to five years," commented Juliet Bakker, co-founder and Managing Director of Longitude Capital. "We are thankful for the strong interest from our existing and new limited partners and their support for our investment approach."