Versant’s capstone

Versant Ventures’ sixth fund, which closed at $400 million on Dec. 30, places a capstone on a five-year transformation from a traditional, diversified West Coast healthcare VC to an international therapeutics-focused investor with an appetite for emerging science.

In 2011, the firm looked much like it had since its founding in the ’90s. It made traditional, syndicated seed and series A investments in West Coast companies spread pretty evenly across therapeutics and medical devices. ...