ARTICLE | Finance
Steady as venBio goes
venBio is staying the course with relatively small $394 million fund even as it moves away from strategic investors
April 4, 2020 2:34 AM UTC
A day after Arch and Flagship unveiled dueling billion dollar funds, venBio is staying the course with a more modest $394 million fund. What is new for the nine-year-old firm is a dramatic shift away from strategic investors.
About 90% of the funds for venBio’s debut fund came from biopharmas and CROs. Amgen Inc. (NASDAQ:AMGN) and Baxalta were LPs in Fund I, along with PPD LLC. All told, strategic investors contributed $175 million of the $180 million Global Strategic Fund I...