Alta Partners, an early-stage healthcare venture capital firm, held the first and final closing of Alta Partners NextGen Fund III, L.P.. Fund III was oversubscribed and has total capital of $275 million.
“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 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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.