Amid measured expansion, Longwood raises $170M for fifth fund

Although Longwood Fund’s latest vehicle is more than twice the size of its prior fund, the 10-year-old firm doesn’t expect to stray far from its strategy of launching start-ups with syndicated early rounds.

The new $170 million commitment for Longwood’s fifth fund and two related incubator funds is much larger than the firm’s Fund IV, which had closed in the $70 million range, the firm’s David Steinberg told BioCentury. ...