Another early-stage biotech investor has clocked in with a new fund. London-based Advent Life Sciences said Tuesday it has closed a $235 million vehicle, its second specialized fund since the tech and life science investors of Advent Venture Partners went separate ways last decade.
The firm used to invest in tech and life sciences from a single fund, Advent Life Sciences general partner Raj Parekh said. But in the middle of last decade, as the old Advent began what Parekh (pictured) called a “generational handover,” the tech side looked toward mid-market, growth equity investments, while the life sciences partners wanted to be involved in company formation.
{iframe}http://www.xconomy.com/national/2014/10/28/bio-venture-specialists-advent-raise-235m-for-u-s-european-deals/{/iframe}