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

Fund II Is More Than Double Their $210m Fund I In 2019

 
• By Mandy Jackson

The strategy for both funds is to back companies with a preclinical drug candidate that can be advanced through clinical proof-of-concept with a mid-sized series A round. 

Wooden blocks with blue up arrows
Perceptive and Xontogeny have tripled the amount of venture capital they have under management • Source: Alamy

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.

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