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Funding drugs for rare diseases
Riverside Partners LLC has raised $85.6 million toward a new fund, the Boston-based private equity firm disclosed in documents posted yesterday by the U.S. Securities and Exchange Commission. Founded in 1988, Riverside invests in middle-market and growth-stage companies in health care and technology.
According to its regulatory disclosure, the current fundraise, titled Riverside Fund IV Offshore LP, began in November. The Boston-based private equity firm’s third fund closed in May, 2006 at $225 million.
General partner David Belluck could not be reached this morning for comment.
According to Riverside’s website, the firm typically invests in companies with revenues between $10 million and $100 million. In April, Riverside announced plans to buy Baltimore medical marker developer IZI Medical Products.
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