Perceptive And Xontogeny’s Second VC Fund Brings In $515m

Perceptive Advisors and Xontogeny LLC thought their first $210m venture capital fund, known as Perceptive Xontogeny Venture Fund I (PXV Fund I), was differentiated from other VC funds, but the niche the investors sought to fill had even more demand from high-quality start-ups than anticipated. That’s one reason why, just 18 months later, they closed the $515m Perceptive Xontogeny Venture Fund II (PXV Fund II) on 12 May with more than two times the capital they raised in the first fund.

Xontogeny CEO and chairman Chris Garabedian told Scrip that “I was pleasantly surprised with the number of companies that wanted...