Walk in the park

Park Vale Capitalwill hit the road this week to raise money for a new fund that will primarily invest in companies with Orphan programs in late Phase II or Phase III testing.

The U.K. firm is targeting a $100 million close by year end for its F2 Bioscience IV fund, with a $300 million close within 12 months. The goal is to invest in late-stage programs that will provide exits in 24-36 months and yield a 2-4x return...