The Deal
Sunday, November 8, 
1:03 pm

New Leaf turns over a new fund

  Share     E-Mail    Discussion    Print Story

 

newleaf_logo.gifLife sciences investment lands a clean bill of health again from New Leaf Venture Partners, which has increased the size of its second fund since spinning off of Sprout Group by nearly 50%, closing New Leaf Ventures II LP at $450 million.

New Leaf first split off from the Credit Suisse Group-affiliated Sprout Group in July 2005, but it continues to manage the legacy Sprout portfolio and took on investments from Sprout's final Sprout Group IX fund in the first fund. Sprout had been investing in venture capital deals since 1969.

The New York- and Menlo Park-based firm drew heavily on previous LPs in raising the latest fund, but it also added new investors to continue to focus on late-stage biopharmaceutical, early-stage medical device and molecular diagnostics companies. Since closing its $310 million New Leaf Ventures I LP fund in August 2005, the firm has backed 19 companies including drug developers Cerexa Inc., Ilypsa Inc. and Sirna Therapeutics Inc.; diagnostics developer Adeza BioMedical; drug industry software maker Phase Forward; and device developer Radiant Medical Inc.

Management of the new fund carries over from New Leaf's previous vehicle, with managing directors Philippe Chambon, Ron Hunt, James Niedel and CFO Craig Slutzkin operating out of New York office, and managing directors Jeani Delagardelle, Kathy LaPorte, Vijay Lathi and venture partner Milt McColl investing from Menlo Park. - Clifford Carlsen

See Oct. 10 press release from New Leaf Partners
See June 5 story from TheDeal.com
See August 2005 story from The Deal.com
See October 2006 story from TheDeal.com

Continue reading below

Also on Dealscape





Post a comment




The Deal Pipeline

Deal Video


Inside The Deal: Linklaters' Schmidt says how regulators handled Pfizer Inc.'s acquisition of Wyeth is an outlier of how others merger reviews will be conducted.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Dealing with frozen bank lending

If your bank is not willing to lend, what can you do as your company continues to seek growth?


Judgment Call

The coming age of the renminbi

The Chinese currency will play an increasingly important role in international commerce and finance.


Industry Insight

Banking on PE investments

Howls of protest greeted the FDIC policy statement, but the financial services industry should get over it.



©Copyright 2008, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.