Foresite Sees Plenty Of Investor Interest In Biopharma As It Raises $173m Fund

Foresite Capital managing director Vikram Bajaj told Scrip that despite the ongoing turmoil for publicly traded biopharmaceutical companies, there are plenty of investors with a long-term view who are willing to put their money behind life science and health care start-ups. In fact, the investment firm’s new $173m fund to support companies emerging from its Foresite Labs incubator exceeded a $150m goal because a lot of investors wanted greater exposure to earlier-stage opportunities, Bajaj said.

With the new fund Foresite unveiled on 3 March, the firm has raised more than $1bn during the past year; it announced in late February 2021 that it closed two funds – Foresite Capital Fund V LP and Foresite Capital Opportunity Fund V LP – totaling $969m