Sofinnova Ventures raises $375M fund

Sofinnova Ventures, a San Francisco venture firm investing in early-stage life science and information technology companies, has finished raising a $375 million fund.

Sofinnova Ventures will allocate two-thirds of the fund for investments in pharmaceutical products, and approximately one-third for IT sector investments, focused on the wireless sector.

Approximately twenty-five companies will be funded, 90 perecent of which will be in the United States with up to 10 percent in Europe, the firm said.

The California state teachers fund, CalSTRS is an investor, as is Pennsylvania State Employees’ Retirement Systems.

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