SAN FRANCISCO, March 25 (Reuters) – Healthcare-oriented venture firm Third Rock Ventures said it had raised a $516 million fund, its third, even as healthcare investing endures something of a slump.
Investors have cooled on the sector due to factors including high regulatory hurdles, the long time frame for drug development and the lack of blockbuster initial public offerings for health and biotechnology companies.
Third Rock, founded in 2007 in Boston, said its latest fund would invest in up to 16 companies. The vehicle will focus on areas including diagnostics, therapeutics, information technology and data.
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Third Rock Ventures raises $516 million fund
