Advent Life Sciences today announced the closing of Advent Life Sciences Fund II (ALSF II), a £145.5M (USD 235M) venture capital fund raised to seed and build life sciences companies in the UK, Europe and the US. The Fund will back entrepreneurs and early-stage and mid-stage companies with the potential to deliver first- or best-in-class breakthrough products for unmet medical needs. The Fund, which quickly exceeded its target, was raised entirely from independent financial investors including funds-of-funds, pension funds, and family offices.
"We thank our returning and new LPs for the strength of their support, which allowed us to raise the commitments for this Fund in a matter of weeks" said Raj Parekh, General Partner. He added "The interest from LPs and demand for the Fund, particularly in current markets, is in large part a recognition of the scientific and medical entrepreneurs, CEOs and Management teams whose commitment, vision and energy is enabling our portfolio companies to bring important medical innovations to patients. It is a privilege to work with them."