PTV Sciences raises $190M fund for life-science investments
PTV Sciences, an Austin, Tex.-based VC firm, raised $190 million for its second venture fund. The firm backs startups in in the life and material sciences, including a variety of diagnostic, drug and device companies. See this Austin American-Statesman article for more. Here’s a brief snippet:
The new fund attracted money from big endowments and pensions. The University of Texas Investment Management Co., which manages $21 billion in higher-education endowments and other state funds, committed $50 million.
The nation’s second-largest pension fund, the $168 billion pension for California teachers, will also invest, according to Matthew Crawford, a managing director of PTV. A spokeswoman for the California fund said Wednesday she couldn’t confirm the fund’s investment.
Crawford said the firm continues to seek medical and life sciences companies that are developing new approaches in orthopedics, surgery and the delivery of drugs into the body.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.
