Versant Ventures closes Fund VI in record time

Versant Ventures has closed its newest fund, Versant Venture Capital VI, at its hard cap of US $400 million or CDN $538 million, and in a record time, exactly two months.

Versant Venture Capital VI family of funds consists of a Delaware main fund, Versant Venture Capital VI, L.P., and an Ontario parallel fund, Versant Venture Capital VI (Canada) LP. There are no breakdown on the sizes of the two funds; Canadian Limited Partners (LPs) include three VCAP fund of funds, Teralys Capital, Northleaf Venture Catalyst Fund, HarbourVest Partners, and retail fund, Fonds de solidarité FTQ.

The quick closing is likely aided by its recent blockbuster deals that Versant engineered and brought to Canada, including US $225M in BlueRock Therapeutics, US $41M in Turnstone Biologics, and Northern Biologics’ pharma development deal.

Fund VI will invest in 20-25 biotechnology companies in the U.S., Canada and Europe. Versant Ventures expects to make its initial investment from the new fund in the first quarter.

Managing directors for Fund VI are Dr. Bolzon, Jerel Davis, Ph.D., Kirk Nielsen, Tom Woiwode, Ph.D., and CFO Robin Praeger.

photo credit: Versant

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.