Strategic LPs once again dominate the second fund from venBio LLC, even though none of the first fund's M&A exits went to an LP.
Amgen and Baxalta (then part of Baxter International Inc.) were LPs in the $180 million Global Strategic Fund I raised in 2011, along with PPD LLC, which Carlyle Group and Hellman & Friedman took private in late 2011. The strategic investors contributed $175 million.
"We believe we're the only firm with multiple large biotech and pharma investors," said venBio's Robert Adelman. "It allows us a unique relationship with our LPs - we're getting a sense from them about industry