TLDR: J.P. Morgan Raises Over $500M for First Biotech Venture Capital Fund
Key Points:
- J.P. Morgan Private Capital closed its first biotechnology-focused capital fund, securing over $500 million
- The fund, called 270 Life Sciences Private Capital Fund I, attracted support from various investors including family offices, institutional allocators, and JPMorgan Chase & Co.
J.P. Morgan Private Capital recently closed its first biotechnology-focused capital fund, raising over $500 million from various backers. The fund, named 270 Life Sciences Private Capital Fund I, received significant support from investors such as family offices, corporate partners, institutional allocators, and high net worth individuals. JPMorgan Chase & Co. also contributed to the fund.
The fund will focus on investing in private biotechnology companies across different stages, modalities, geographies, and therapeutic areas. However, the fund aims to make 20 to 25 investments primarily in early-stage companies, with a focus on biotechs in areas such as cardiometabolic disease, immunology, oncology, and genetic medicine.
The fund is led by chief investment officer and managing partner Stephen Squinto, along with managing partner Gaurav Gupta. Squinto stated that their mission is to identify and support innovative companies that can shape the future of patient treatment, mentor new biotechnology founders and executives, and guide companies towards successful outcomes.
J.P. Morgan has been actively expanding its presence in the biotech funding space in recent years. In 2022, J.P. Morgan Asset Management launched a life science-focused private equity team, and in April 2024, the Private Capital Division raised a $100 million Series A round for Enlaza Therapeutics. Other VC firms like Goldman Sachs Asset Management and Foresite Capital have also committed sizable funds to invest in the life sciences and biotech sectors.
