Tuesday, July 8, 2008

Longitude Capital Closes $325M Fund

Menlo Park-based Longitude Capital has closed a $325M, life sciences fund, Longitude Venture Partners L.P., the firm said Tuesday. According to Longitude Capital, the firm's target was $250M. The firm is a spinout from Pequot Capital, and is headed by Juliet Tammenoms Bakker, Patrick Enright and Marc-Henri Galletti. Jeffrey Gold is a venture partner at the firm, Douglas Foster and David Hirsch are principals, and the CFO is Elaine Erickson. The new fund said it will focus on earlier-stage medical device companies and later-stage opportunities in biotech. UBS Securities LLC acted as exclusive placement agent for the fund.