MENLO PARK, Calif., Dec. 5 /PRNewswire/ -- Versant Ventures, an early- stage healthcare venture capital firm, announced today the closing of its $400-million Versant Venture Capital II fund, representing a significant increase over the firm's initial $250-million fund. In addition, the firm announced the promotion of Camille Samuels Pearson to managing director.
With the second fund's closing, total capital under management will reach more than $670 million. Versant Ventures will continue to concentrate on investments in early-stage healthcare companies in core areas of medical devices, biotechnology, specialty pharmaceuticals, healthcare services and healthcare information technology. Over the next three years, the firm's managing directors plan to make initial investments in approximately 45 early- stage companies forging market leadership positions within their respective industries.
``Both of our funds were raised in the midst of tough economic environments. In 1999, we were focusing solely on healthcare while the rest of the world was riding the dot-com wave,'' said Ross Jaffe, M.D., managing director. ``Now, even in a troubled economy, the raising of this second fund in only two years after founding the firm demonstrates that our model is working and that healthcare remains an attractive area for investment.''
Versant Ventures is led by a seasoned group of eight managing directors and supported by four other investment professionals, collectively representing more than 175 years of operating experience in healthcare companies and over 80 years of venture capital experience. Versant Ventures is an active investor in early-stage companies, with its managing directors taking board seats in more than 90 percent of those investments.
Versant Ventures also announced the promotion of Camille Samuels Pearson to managing director. Camille joined the firm as an associate shortly after its formation and has been actively involved with the firm's investments in Syrrx, Fluidigm, Reliant Pharmaceuticals, Genomic Health and ParAllele.
Prior to joining Versant Ventures, Camille served as director of business development of Tularik, where she was responsible for corporate strategy and developing partnerships around clinical/preclinical therapeutic programs. Camille earned her bachelor's degree in biology from Duke University and an MBA from Harvard Business School, where she graduated as a Baker Scholar.
``Camille has a real talent for venture capital, combining real-world operating experience, an extensive network of contacts and a deep knowledge of the biotechnology industry,'' said Brian Atwood, managing director. ``She has demonstrated to us her ability to add significant value to our portfolio companies.''
The members of Versant Ventures include eight managing directors: Brian Atwood; Sam Colella; Ross Jaffe, M.D.; Barbara Lubash; Bill Link, Ph.D.; Don Milder; Beckie Robertson and Camille Samuels Pearson. Robin Praeger (CFO), Michael Partsch (associate), David Chonette (venture advisor) and Carl Simpson (venture partner) round out the investment team.
About Versant Ventures
Versant Ventures, founded in 1999, is a leading venture capital firm specializing in early-stage investments in all major sectors of healthcare. Comprising investment professionals drawn from three of the most successful firms in the venture business -- Brentwood Venture Capital, Crosspoint Ventures and Institutional Venture Partners -- Versant Ventures' managing directors were among the first in the industry to create a critical mass of expertise and capital dedicated exclusively to the healthcare sector. Collectively, the Versant Ventures investment team has more than 80 years of venture investment experience and more than 175 years of general management and operating experience.
Versant Ventures raised its first fund of $250 million in November 1999 and is actively investing in medical devices, biotechnology, specialty pharmaceuticals, healthcare services, and healthcare information technology.
For further information please contact: Cindy Monticue, ext. 133, cmonticue@fischerhealth.com, or Jessica Morris, ext. 140, jmorris@fischerhealth.com, both of FischerHealth, +1-310-577-7870, for Versant Ventures. |
