More risk-sharing deals to come from Blackstone's inaugural $4.6B life sciences fund, plus earlier investments

Nearly two years after acquiring Clarus Ventures, Blackstone has closed its inaugural life sciences fund at $4.6 billion, making good on its commitment to scale up the former’s risk-sharing model.

Over its 13-year tenure, Clarus raised $2.6 billion across four funds. Blackstone acquired the VC firm in late 2018 as part of its broader push into the life sciences, retaining Clarus’ San Francisco and Boston teams and appointing co-founder and managing director Nick Galakatos to serve as global head of the new Blackstone Life Sciences unit (see “Risk-sharing at Scale”). ...