Economic uncertainty tied to the ongoing COVID-19 pandemic did not keep the life science-focused venture capital firm venBio from being able to close its third fund, which totaled $394m. In fact, the fund was oversubscribed, surpassing venBio’s initial goal of $250m, with heavy interest from big pharma companies and other investors, according to managing partner Corey Goodman.
venBio Raises $394m To Fund Biopharmas Through Human Proof-Of-Concept
Managing partner Corey Goodman said venBio didn’t have trouble closing its fund, because the venture capital firm prepared its investors for an economic downturn months ago.
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