Deals
Bain Capital Raises $900 Million for Second Life-Sciences Fund
- Outside investors pour in cash for innovative drugs, devices
- Biotech bets growing more crowded as bigger players circle
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Bain Capital LP has raised $900 million for its second fund dedicated to life sciences, a sign that volatile market conditions haven’t diminished investors’ eagerness to back innovative medical companies.
The new fund will make between 15 and 20 investments in companies developing new drugs, medical devices, diagnostics and tools, according to Bain Capital Life Sciences’ managing directors, Adam Koppel and Jeffrey Schwartz. The unit previously raised $600 million in 2017 for its first fund, which has made 15 investments, including in biotechnology companies Solid Biosciences Inc. and neuroscience-focused Cerevel Therapeutics.