RiverVest Venture Partners closes $184.4 million life sciences fund

RiverVest Venture Partners, a St. Louis venture capital firm that invests in startups in the life sciences sector, closed its fourth fund with $184.4 million in commitments in an oversubscribed round.

The firm announced the news in a press release Tuesday.

Established in 2000, RiverVest has invested in 47 companies to date, according to the release, and 22 of those have either gone public or been acquired. RiverVest portfolio companies have produced more than 25 approved medical products, according to the release.

The newly closed fund brings the firm’s total assets under management as of Sept. 30 to $753 million.

The firm said it focuses on biopharma and medical device companies that address big unmet needs and are ready for an IPO or sale within five years.

“We are pleased that Fund IV exceeded our target,” RiverVest co-founder and managing director Jay Schmelter said in the release. “It enables us to continue executing our strategy for generating top-quartile investor returns.”


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