Life sciences investor Decheng Capital targets $700M for fifth fund

After $900 million and $500-plus million fund closures last week from Foresite Capital and JP Morgan, respectively, another firm wants to enter the upper echelons of life sciences investing.

Decheng Capital disclosed plans for a $700 million global life sciences fund on Monday morning. The haul would mark the fifth life sciences vehicle for the investor, which has offices in Silicon Valley, Shanghai and New York.

Other multi-time life sciences investors have recently filed securities paperwork for their next funds, including Aditum Bio’s plans for a $400 million third fund.

New capital is sorely needed in the current financing environment as many biotech startups have struggled to secure additional funding, both in the private markets and via initial public offerings, which have been few and far between.

Biopharma venture capital funds have raised $13 billion on an annualized basis this year, according to…
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