InterWest Partners has closed its tenth fund at $650 million. The firm plans to invest in early-stage life science and information technology companies, with the new money backing between 25 and 30 startups in each sector.

The Menlo Park, Calif, firm has also promoted three team members to the rank of general partner — Chris Ehrlich and Nina Kjellson, who focus on life sciences, and Doug Pepper, who focuses on IT.