The firm specialises in setting up spinouts out of universities and corporations, and now has more than $1.6bn in assets under management.
RiverVest Venture Partners, a US-based venture capital firm focused on university and corporate spinouts, has completed fundraising efforts for its fifth vehicle after raising $275m.
River Vest Venture Fund V’s limited partners include a mix of returning and new investors, including institutional investors, family offices and private backers. It is the firm’s largest fund to date and brings its total assets under management to more than $1.6bn.
RiverVest has backed 55 companies and founded 15 spinouts to date. It specialises in establishing biopharmaceutical and medical device developers emerging out of academic labs or corporate research and development.
Its portfolio includes Neuros Medical, a US-based pain treatment spinout of Case Western Reserve University, which secured $38.5m in January this year from investors including spinout-focused investment firm Osage University Partners.
Jay Schmelter, co-founder and managing director of RiverVest, said: “With RiverVest Venture Fund V, we will continue our investment strategy grounded in close collaboration with entrepreneurs and academic investigators to develop products for the most pressing challenges patients face today.
“Fund V’s larger size will enable RiverVest to participate more fully in later equity rounds of portfolio companies which have the greatest potential.”
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
