Laxman Pai, Opalesque Asia:
Biotechnology venture capital firm Third Rock Ventures has raised $770m for its fifth fund, a sign that investor interest in funding early-stage science continues unabated despite volatile public markets.
The investment vehicle, the largest ever raised by Third Rock in its 12-year history, will support investments in 10 to 12 companies. The Boston-based firm's new fund came together quickly.
With Fund V, the firm will continue to execute on its strategy of discovering, launching and building innovative life sciences companies that have the potential to transform the lives of patients and their families.
