Deerfield Management's Deerfield Healthcare Innovations Fund was the largest venture capital fund closed in the third quarter, according to data from Dow Jones VentureSource.
The fund raised $550 million, and in a July release the firm said it will "invest in groundbreaking advancements in science that may lead to therapeutic interventions in genetic diseases, cancer and orphan diseases," and "also back new technologies that can transform how therapeutics are developed and improve the way health care is delivered to patients."
Investors include New York-Presbyterian Hospital, Memorial Sloan Kettering, Seattle Children's Hospital, the Robert Wood Johnson Foundation, Princeton University and Northwestern UnivNorthwestern Universityersity and NorthwestePrinceton University and Northwestern University.
Foresite Capital Fund III was the second-largest fund raised in the quarter. Also a health-care fund, it closed with $450 million in commitments during the quarter.