SV Life Sciences hires three

The specialised venture firm has brought on three venture partners in healthcare and biotechnology. Gary Velasquez is returning to his post after four years helming a portfolio company, and Kevin Barrett is a joint hire with Bain Capital Ventures. Sarah Bodary joins the firm from Genentech, where she worked as a biologist.

Venture firm SV Life Sciences has hired partners Sarah Bodary, Gary Velasquez and Kevin Barrett to bolster the firm’s biotechnology and healthcare services teams.

Bodary, a former Genentech biologist, will focus on biotechnology in SV’s San Francisco office. At Genentech, Bodary led teams that brought new drugs from discovery through clinical trials.

Velasquez is returning to his role as a healthcare-focused venture partner in San Francisco after taking over SV portfolio company Synarc as president and chief executive in 2004. SV exited the radiology company earlier this year. Before joining SV, Velasquez was a senior executive at publicly traded healthcare company Health Net.

SV and Bain Capital Ventures have co-sponsored the addition of healthcare executive Kevin Barrett as an entrepreneur-in-residence. Bain Capital Ventures is the Boston-based venture arm of private equity firm Bain Capital.

Barrett was most recently a founding partner of healthcare-focused consulting firm Commonwealth Health Partners. He was previously chief development officer of mail-order drug company PolyMedica until it was acquired by drug benefits company Medco Health Solutions in October 2007.

SV closed its fourth and most recent fund on $572 million in March 2007, bringing the firm’s total assets under management to $1.6 billion. The fund invests primarily in the US and Europe but may also invest in other regions financing human life sciences businesses at all development stages.

The firm was created in 1993 as part of the Schroder Ventures Group, and became independent in 2001. It has offices in Boston, San Francisco and London, and also manages International Biotechnology Trust, a London-listed investment trust that invests in quoted small cap companies.