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Finance Watch: Two New VC Funds Raise $755m To Fund Innovation

Longitude Closes $585m Fund; Pureos Raises $170m First Fund

 
• By Mandy Jackson

Private Company Edition: Also, Medicxi’s new €200m fund will be reinvested in a portfolio of six life science companies and Silverback more than doubled its 2020 money with an $85m series C round.

Finance Watch

Venture capital investment in biopharmaceutical companies has been remarkable throughout 2020, both in terms of individual company fundraisings and new VC funds, including two funds totaling $755m that were announced on 23 September.

Longitude Capital closed its fourth and largest fund to date – Longitude Venture Partners IV LP (LVP4) – with $585m to back biotechnology, medical technology and health care solutions across all stages of company development

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