Omega Funds raises $438m

The Boston-based manager closes its sixth fund above target.

Omega Funds held a final close of Omega Fund VI on $438 million. The fund was targeting $400 million and opened for fundraising late last year, PEI data shows.

Fund VI will invest in life sciences companies primarily located in the U.S. and Europe. The fund strategy involves venture investing, late-stage public investing and secondary transactions.

Omega Funds was founded in 2004 and has raised more than $1 billion across its six funds, the firm said in a statement on Wednesday announcing the fund closure.