ARTICLE | Finance

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

Longwood’s growing team will invest in 10-12 life sciences companies, more than previous funds have backed

July 23, 2020 11:22 PM UTC

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. ...

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