New Rhein raises $47.7M towards debut fund

New Rhein Healthcare Investors raised on Dec. 19 $47.7 million toward its debut fund, a pooled fund that will focus on both therapeutics and medical devices. It has an additional $15 million commitment, which it will receive when it reaches its final target of $100 million.

The Philadelphia-based firm looks to invest $10-$30 million in equity per portfolio company through the fund. It expects to make five to seven investments over the next three to four years. A company spokesperson told BioCentury the fund will be disease agnostic...