Thursday, July 31, 2008

Versant Ventures Closes $500M Fund

Menlo Park-based Versant Ventures said Thursday that it has closed a $500M venture capital fund focused on the biotechnology, pharmaceuticals, and medical devices area. The early stage venture capital firm said that the close of Versant Venture Capital IV, L.P., brings the company's total under management to more than $1.6 billion. The new fund will target 30-35 medical device, biotech, and pharmaceutical investments throughout the U.S. Versant Venturs also has offices in Newport Beach, California.