BOSTON, Oct. 21, 2020 (GLOBE NEWSWIRE) -- RA Capital Management, LP (“RA Capital”) has held a first and final closing of its second venture fund, RA Capital Nexus Fund II, L.P. (“Nexus II”), raising $461 million.
“We deeply appreciate the continued support of our existing limited partners and new institutions in this endeavor. Together, we share in the optimism that there is so much more good that biotechnology can do for humanity,” said RA Capital co-founder and Portfolio Manager Rajeev Shah.
The additional capital increases RA Capital’s private deal capacity to over $1.3 billion and total assets under management to approximately $6.8 billion. RA Capital’s inaugural venture fund, RA Capital Nexus Fund, L.P. (“Nexus I”) closed in July 2019 with approximately $300 million of capital. In its first 15 months, Nexus I has called 80% of its capital, invested across 18 distinct therapeutic areas, and funded 59 companies, 15 of which have IPO’d or have been acquired.
Similar to Nexus I, Nexus II is expected to participate in substantially all investments in private companies made by RA Capital from its evergreen fund, which invests per the firm’s primary investment strategy in both public and private biotech companies.
