ven and now
Why venBio's new fund again is dominated by strategic LPs
Strategic LPs once again dominate the second fund from venBio LLC, even though none of the first fund's M&A exits went to an LP.
Amgen and Baxalta (then part of Baxter International Inc.) were LPs in the $180 million Global Strategic Fund I raised in 2011, along with PPD LLC, which Carlyle Group and Hellman & Friedman took private in late 2011. The strategic investors contributed $175 million.
"We believe we're the only firm with multiple large biotech and pharma investors," said venBio's Robert Adelman. "It allows us a unique relationship with our LPs - we're getting a sense from them about industry