Red Tree Reveals First West Coast VC Fund As It Readies For Second
San Francisco Firm Saw Unmet Funding Need
Red Tree Venture Capital closed its first fund with $272m for biotech companies emerging from academic and research institutions, seeking to fill a need for early-stage funding on the West Coast.
You may also be interested in...
Finance Watch: VC Mega-Rounds Make A Comeback In March
Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.
Finance Watch: Venture Floodgates Open With New Funds, Dozens Of Rounds
Private Company Edition: While the tough state of financing for publicly traded drug developers continues, venture capital firms and private biopharma companies revealed billions of dollars in new VC funds and start-up financings, including $100m-plus mega-rounds for Tessa, Alladapt and ImCheck.
Finance Watch: Atlas Raises $450m Venture Fund For Biotech Breakthroughs
Both Atlas and Foresite Capital announced new funds focused on start-ups. Also, Flagship launched Vesalius with $75m in initial funding, Innoviva sold $225m in notes, Hookipa priced a $75m follow-on offering and job cuts were revealed by Epizyme, Flexion, Deciphera and Gemini.