St. Peter steps down from MPM Capital

Steven St. Peter, who worked at Carlyle and Apax, has stepped down as a managing director at life sciences firm MPM Capital to focus on his next move in the venture industry.

Steven St. Peter stepped down in May as a managing director at MPM Capital, a venture firm that focuses on life science companies.

St. Peter had been with the firm since 2003, prior to which he worked stints at Apax Partners and The Carlyle Group.

St. Peter said he enjoyed his time at MPM but was ready to move on in his career, which has spanned more than a decade. He did not reveal his next step, but will continue to work as chairman of MPM portfolio company Aratana Therapeutics, which develops therapies for animal use. The company has raised $31 million in venture funding, St. Peter said.

“I eventually see myself back in the venture capital world, more in small partnerships, smaller fund models,” he told Private Equity International in a recent interview.

MPM has a series of funds called MPM BioVentures, which started in 1997 with the $230 million debut fund. Fund V closed on just under $300 million in 2010, and the largest fund, the third BioVentures vehicle, raised $949 million in 2002. In total, the firm has more than $2 billion in committed capital.