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SV Life Sciences raises over USD523m for fifth fund

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SV Life Sciences has held the final closing of its newest fund, SV Life Sciences Fund V.

The fund closed with total commitments of over USD523m, well exceeding its target of USD400m. 

SV Life Sciences’ fifth international life sciences fund brings the firm’s total funds under management to over USD2.0bn, making it one of the largest venture capital investment groups dedicated to the life sciences sector.

The diversified investment strategy of SVLSF V remains consistent with that of earlier funds.  SVLSF V will be focused on providing start-up, early stage and expansion capital to life sciences companies in the US and Europe.

The fund will invest across a range of life sciences sectors, including biotechnology and pharmaceuticals, medical devices, healthcare services and healthcare information technology.

Anticipated investment size will typically be between USD5m and USD35m. 

James Garvey, chairman and managing partner of SV Life Sciences in Boston, says: "We experienced considerable success in fundraising despite a challenging economic climate, especially for venture capital firms, which have endured a difficult period for raising capital. We were convinced that the strength and proven track record of our team would enable us to pursue a fund in this environment. Investors were attracted by SVLS’ diversified strategy and consistent record of success, with the firm realizing sales of portfolio investments across all three sectors in 2009. We are encouraged to have raised a similar size of fund to SVLSF IV which enjoyed considerably more favorable economic conditions in 2007." 

Consistent with prior funds, approximately 60 per cent of capital commitments came from the US and 40 per cent from Europe and the rest of the world.

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