Los Angeles VC Westlake Village BioPartners launches $450M biotech fund with 'recipe for success'
17 Jul 2023
Executive Change
Preview
Source: FierceBiotech
Westlake Village BioPartners touts itself as the creator of the Los Angeles biotech hub.
Westlake Village BioPartners has launched its third fund, a $450 million vault for developing early-stage, next-gen biotechs in Los Angeles and beyond.
The oversubscribed third fund brings the VC firm’s total raised to $1.3 billion since emerging in 2018. Since then, Westlake has created more than 20 companies and supporting companies such as 3T Biosciences, Capsida Biotherapeutics and Acelyrin, among others.
The VC touts itself as the creator of the Los Angeles biotech hub, launching eight companies in the region thus far and managing more early-stage venture capital solely from the area than any other firm.
"Los Angeles has a culture of innovation that is underappreciated in the biotech world," Mira Chaurushiya, Ph.D., said in a July 17 company release. Chaurushiya, most recently a partner at 5AM Ventures, has been appointed managing director of the fund.
"We have outstanding entrepreneurial and industry-experienced talent, world-class academic institutions and sufficient venture capital with expertise in building biotech companies,” Chaurushiya said. “Along with the wonderful Southern California lifestyle, this is a recipe for success."
Chaurushiya is joined by founding Managing Director Beth Seidenberg, M.D., and David Allison, Ph.D., who also joins from 5AM Ventures and was just appointed managing director of the Westlake fund.
Westlake will channel the fresh $450 million into incubating and building early-stage companies by matching next-gen tech with world-class talent, according to the company.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Indications
-Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.