Vivo Capital raises $1.43bn

The Palo Alto-based private equity firm closed its ninth healthcare and life sciences fund above its target.

Vivo Capital held a final closing of its ninth fund, Vivo Capital Fund IX, at $1.43 billion, surpassing its $1.40 billion target. The fund raised almost double that of its predecessor, Vivo Capital Fund VIII, which closed in March 2015 at $750 million.

Fund IX received capital commitments from several pensions and insurance companies including California State Teachers’ Retirement System, Arizona Public Safety Personnel Retirement System, University of Houston System, Taiwan Life Insurance, Cathay Life Insurance and Fubon Life Insurance. Capital raised by the vehicle will be used to invest in growth-stage healthcare and life sciences companies across the North America and Asia-Pacific regions.

Since its founding in 1996, Vivo Capital has invested in over 200 private and public healthcare companies around the world. The firm has a strong presence throughout the United States, Hong Kong, China and Taiwan.