Despite Foresite Capital's strong track record with 47 IPOs, 28 M&As, and 58 FDA-approved drugs, it took two years to raise their sixth fund amidst a challenging fundraising environment.
Foresite faced a funding gap despite nearly all LPs from the previous fund renewing for the new fund, resulting in a 30% reduction in capital commitment.
Hiring Haidi Tabbaa to lead investment relations efforts helped Foresite bring in new LPs from Asia and the Middle East, contributing to the successful closure of the sixth fund at $900 million.
Foresite plans to invest in about 20 companies from the sixth fund, ranging from a few million dollars to $75 million per check, reflecting their long-term vision for healthcare investments.
[
Collection
]
[
|
...
]