J.P. Morgan Private Capital has closed an inaugural life sciences fund of more than $500 million, cash that will go toward a wide range of private biotechs and build value for existing portfolio companies.
Dubbed the “270 Life Sciences Private Capital Fund I,” the money was raised in just over a year, Stephen Squinto, Ph.D., chief investment officer and managing partner of J.P. Morgan Life Sciences Private Capital, said in a June 13 release.
Investments will go toward biotechs of all stages, ranging across different modalities and therapeutic indications. Early investments have already been made in cardiometabolic disease, oncology, immunology and genetic medicines. The fund will also help build value for existing portfolio companies, according to the company release.
Beyond capitalizing companies, the investment firm hopes to mentor a new generation of biotech founders and executives, according to Squinto.
“As the biotechnology industry enters the next era of scientific discovery, we strive to become a partner of choice for world-class researchers and entrepreneurs," Gaurav Gupta, M.D., managing partner of J.P. Morgan Life Sciences Private Capital, said.
The 270 fund closed above its $500 million target, though the exact figure was not disclosed.
J.P. Morgan Private Capital has a focus on growth investing and offers customized financing solutions for private companies. The team is a part of J.P. Morgan Asset Management’s alternative investment arm, known as J.P. Morgan Global Alternatives.