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SV Life Sciences has closed its fifth fund with over $523 million in commitments, the Boston-based venture capital firm reports in a press release this morning.
The firm, with offices in San Francisco and London, had originally targeted a $400 million fundraise. SVLS reported early this month that the fund was already oversubscribed at over $500 million.
SVLS was one of the only Massachusetts VC firms to increase its investment activity in 2009 over the previous year. Chairman and managing partner James Garvey told Mass High Tech in an interview earlier this month that all but 10 of its deals this year were follow-on financings. In some cases, the dollar figures increased as SVLS took over for syndicated co-investors who were unable or unwilling to re-invest in portfolio companies. It increased its deal volume by 31 percent, putting $161 million to work over 46 financings. Founded in 1995, the firm currently has about $2 billion under management across four funds.
From today’s press release:
The diversified investment strategy of SVLSF V remains consistent with that of earlier funds. SVLSF V will be focused on providing startup, early stage and expansion capital to life sciences companies in the United States and Europe. SVLSF V will invest across a range of life sciences sectors, including biotechnology and pharmaceuticals, medical devices, healthcare services and healthcare information technology (HIT). Anticipated investment size will typically be between $5 million and $35 million.
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