As Some VCs Refill, Others Are Running Out Of Gas
Life science VCs are posting strong across-the-board returns, allowing some firms to raise new funds larger than their prior vehicles. Still, the contraction that began nearly five years ago continues to thwart other firms’ efforts to press on through hard times.
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A history of strong returns from the firm, which backs both private and public health care companies, compelled existing investors to return for a new fund. Still, Longitude retained a placement agent to find new limited partners as an “insurance policy.”
Index Life VI is the first life-sciences-only fund for Index; GSK’s Moncef Slaoui and J&J’s Paul Stoffels are on scientific advisory board.
The onetime Celera CEO says his new attempt to centralize biological information into a massive database could lead to breakthroughs that extend the human life span. Behind that bold goal is a more mundane data-licensing strategy that, although not splashy, could still improve medicine.