J.P. Morgan Life Sciences Private Capital closes biotech venture capital Fund with over $500m in commitments
J.P. Morgan Private Capital, a venture capital and growth equity investment team within J.P. Morgan Asset Management, announced the final close of the first Life Sciences Private Capital offering, 270 Life Sciences Private Capital Fund I (The Fund), led by Chief Investment Officer, Stephen Squinto and Managing Partner, Gaurav Gupta.
The Fund closed above its $500 million target, attracting strong support from investors, including institutional allocators, strategic corporate partners, family offices and high net worth individuals across North America, Europe, the Middle East, and Asia, as well as JPMorgan Chase & Co.
"We are pleased to announce the close of our inaugural fund, which was raised in just over a year, almost two times faster than our peers in the past decade. As investors and company builders, we are strongly positioned at J.P. Morgan Private Capital to identify and support highly innovative companies that can shape the future of how patients are treated. Our mission is not only to capitalize companies, but also to utilize our collective experience to guide them towards successful outcomes, and to mentor a new generation of biotechnology founders and executives," said Stephen.
The Fund invests in private biotechnology companies across stage, modality, therapeutic area, and geography. The Fund's early company formation activities and portfolio investments span cardiometabolic disease, oncology, immunology, and genetic medicines. The Fund also aims to leverage the scale and resources of J.P. Morgan to add value to portfolio companies.
"We are grateful for the support of our investors, and for the key contributions of our strategic advisors and internal team members, as we announce the close of our inaugural life sciences venture capital fund. As the biotechnology industry enters the next era of scientific discovery, we strive to become a partner of choice for world-class researchers and entrepreneurs," said Gupta.
