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Frazier Healthcare Partners raises $419m

The Menlo Park-based firm will target early-stage biotech companies

Frazier Healthcare Partners closed Frazier Life Sciences IX, its ninth institutional fund and second dedicated life sciences vehicle, on $419 million after a three-month fundraise.

The fund, which was oversubscribed, will focus on early-stage investments in therapeutics companies developing biopharmaceuticals.

According to the firm’s press release, Frazier’s life sciences team will allocate two-thirds of its portfolio to series A and seed investments.

The Menlo Park-based firm’s predecessor life sciences fund, Frazier Life Sciences VIII, closed on $262 million in 2015.