Managers

Venture investing approaches 18-year record

Arrowroot Capital targets $315 mln for fourth fund

Arrowroot Capital is seeking to raise $315 million for its fourth fund, according to an SEC filing. Santa Monica, California-based Arrowroot Capital Management is a growth equity firm that invests in B2B software firms.

NovaQuest collects over $95 mln for fund

NovaQuest Capital Management has raised over $95 million for its debut private equity fund, according to an SEC filing. The target is $400 million. Based in Raleigh, North Carolina, NovaQuest invests in the life sciences and healthcare sector.

VC-backed Sutro Biopharma debuts IPO

South San Francisco-based Sutro Biopharma Inc, a drug developer focused on creating protein therapeutics for cancer and autoimmune disorders, has raised about $85 million after pricing its over 5.6 million shares at $15 per share. The stock began trading September 27, 2018 on the NASDAQ under the ticker symbol "SRO." Cowen and Piper Jaffray are the lead underwriters. Also, Sutro has raised about $10 million in a private placement from Merck. Sutro's pre-IPO investors included Samsara BioCapital, Surveyor Capital, Alta Partners, Amgen Ventures, Celgene Corporation, Lilly Ventures, Skyline Ventures and SV Health Investors.

Indigo's $250 mln round grows agritech venture funding to new heights

Akrevia Therapeutics scores $30 mln Series A

Cambridge, Massachusetts-based Akrevia Therapeutics, a biopharmaceutical company focused on developing immuno-oncology therapeutics, has secured $30 million in Series A financing. F-Prime Capital Partners and Atlas Venture led the round.

AbCellera rakes in Series A funding

Vancouver, British Columbia-based AbCellera, a developer of next-generation therapeutic antibodies, has raised $10 million in Series A financing. DCVC Bio led the round. In conjunction with the fundraising, John Hamer, managing partner at DCVC Bio, has joined AbCellera’s board of directors while Doug Janzen will be stepping down from his role as board chairman.

Morningside raises $593 mln for venture-capital, opportunity funds

Morningside Venture Capital has raised $395.5 million toward a $600 million venture-capital fund, according to a filing with the SEC. The Hong Kong firm also raised $197.8 million toward a $300 million opportunity fund, a separate filling shows.

VC-backed Entasis Therapeutics debuts IPO

Waltham, Massachusetts-based Entasis Therapeutics, a biopharmaceutical company focused on developing new antibacterial products, has raised about $75 million for its IPO after pricing its 5 million shares at $15 per share. The stock began trading September 26, 2018 on the NASDAQ under the ticker symbol "ETTX." Credit Suisse and BMO Capital Markets are the lead underwriters. Entasis' pre-IPO backers include Pivotal bioVenture Partners, Sofinnova Ventures and TPG Biotech.

Ceribell fetches $35 mln Series B

Mountain View, California-based Ceribell Inc, a provider of a system that diagnoses and treats patients at risk for seizures, has secured $35 million in Series B financing. Optimas Capital Partners Fund and The Rise Fund led the round with participation from UCB and LivaNova.