Alta Partners raises US$275M NextGen Fund III | FI SENSE

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Alta Partners, a leading early-stage healthcare investment firm, held the first and final closing of Alta Partners NextGen Fund III. Fund III was oversubscribed and has total capital of $275 million.

The Alta team will continue its successful strategy of investing in curative, breakthrough therapeutics and technology-enabled healthcare services.

“We are grateful for the ongoing support and partnership of our longtime investors, and we’re excited to welcome a select group of new LPs.” said Dan Janney, partner at Alta. “We have a great team and focus, a combination that is creating significant value for our stakeholders. Our first two funds in the APNG family have provided industry leading returns thus far.”

Alta Partners raised NextGen Fund I in 2017, and Fund II in 2019. Both funds focused on a concentrated portfolio of companies working with an outstanding group of entrepreneurs to make broad impacts on disease and healthcare delivery. In the four years since Fund I was closed, the portfolio of early-stage companies invested in by the fund have grown into over $19 billion in enterprise value.

“Alta Partners has been critical to our success growing from a small one market care delivery model, into a national leader delivering emergency care and in-home hospitalization across markets serving over 100 million Americans in 2021, and working across a broad ecosystem of health systems and payers to deliver high quality and low-cost alternatives to facility-based care,” said Mark Prather, CEO of DispatchHealth.

Alta Partners has invested in some of the leading biotech therapeutics companies, including Allakos, VIR Biotechnology, Be Biopharma, and TYRA Biosciences. “Working with Alta on developing TYRA has not only been incredibly helpful, but I wouldn’t have launched the company without them,” said Todd Harris, CEO. “Alta focuses on a small portfolio of companies and goes all-in to help them succeed.”

Alta Partners will continue to be run by Managing Directors Dan Janney, Bob More, and Pete Hudson, MD, and invest with the same focused strategy that has delivered success across its earlier funds.

“At Alta, we work hard, hustle to find the best opportunities, support our companies 100% when we commit, and always focus on the things that matter,” stated Pete Hudson, MD. Bob More added that, “Alta is committed to aligning our fantastic LP base with the world’s best entrepreneurs, and making a difference in the companies we support… ultimately improving patient care.”

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