Oxford Bioscience reported to raise $66M in new fund

By Lori Valigra, Mass High Tech correspondent

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Oxford Bioscience Partners of Boston held a $66 million first close on its sixth fund, according to a report by Fortune. The new fund is targeting a total of $100 million to $150 million.

The first contributors to the fund are the government of South Korea and the Seoul municipal government, per Fortune. It is not certain whether Oxford will locate staff in Korea. The new fund reportedly will invest in both Korean and American startups.

Oxford is said to believe Korean stock markets are more receptive to bioscience companies than hot markets like China or India.

Oxford’s east coast offices were closed today and the West Coast office was unavailable for comment.

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