Venrock has raised $194 million for a fund that will invest in late-stage private and publicly-held healthcare companies.
Venrock, a premiere venture capital firm originally established as the venture arm of the Rockefeller family, today announced the formation of Venrock Healthcare Capital Partners, a $194 million venture fund dedicated to investments in publicly-held and late-stage private healthcare companies. Venrock holds one of the best known healthcare investment franchises in the industry and with the close of Venrock Healthcare Capital Partners, the firm has approximately $2.2 billion under management.
“In addition to its early stage venture investing activities, Venrock has made several investments in public corporations opportunistically in the past, such as Sirna and World Heart Corporation,” said Anders Hove, MD, partner at Venrock. “Our investment approach is uniquely applicable to evaluating publicly-held, small cap healthcare companies as potential investment opportunities and, as venture capitalists, we can provide a valuable outside perspective as strategic advisors.”
Venrock helped pioneer healthcare venture capital in the early 1980s and the firm’s historical portfolio includes five of the largest U.S. biotech companies ever founded. In the last several years, Venrock successfully brought XenoPort and athenahealth to the public market and played a substantive role in the acquisitions of Sirna Therapeutics by Merck and Adnexus by Bristol Myers Squibb. With 39 companies in its current healthcare portfolio, Venrock continues to build some of tomorrow’s most promising new companies, such as Anacor, Ikaria and Ironwood.
“Venrock Healthcare Capital Partners presents a tremendous opportunity for us to leverage our expertise and relationships in building biotech companies within the public realm,” said Bryan Roberts, partner at Venrock. “The healthcare sector continues to be an important focus for Venrock as we focus on identifying, financing and building tomorrow’s industry leaders.”
Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues the eight-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. Having invested $2.2 billion in 430 companies resulting in 124 IPOs over the past 40 years, Venrock’s investment returns place it among the top tier venture capital firms that have achieved consistently superior performance. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, Centocor, Check Point Software, DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock’s website at www.venrock.com.