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Westlake’s third fund of $450 million will be used to grow early stage biotechnology companies.
Westlake Village BioPartners, a Los Angeles area-based venture capital firm, announced the launch of its oversubscribed third fund of $450 million to incubate and grow early stage next-generation biotechnology companies on July 17, 2023. The new fund will be managed by Beth Seidenberg, founding managing director; Mira Chaurushiya, managing director; and David Allison, recently appointed managing director.
According to a company press release, the new fund brings the total raised since the company’s launch in 2018 to approximately $1.3 billion. The full list of companies in Westlake’s current investment portfolio can be found here.
“This new fund will enable us to continue to do what we do best – build great companies from the ground up that make a difference for patients and generate outsized returns for investors regardless of market conditions,” said Seidenberg in the release. “Our investors recognize our strategy is working and have demonstrated their commitment through this new investment.”