Lightstone Ventures Secures First Fund at $172 Million.
Lightstone Ventures has recently announced that it has recently secured its first funding round at $172 million, representing the largest, for the very first time, U.S. life sciences venture fund raised in over the past two years. The fund will be aimed towards investment opportunities in early-stage biotechnology and medical device companies.
Lightstone has also announced it has recently made three investments: Catabasis, a clinical-stage biopharmaceutical company developing new treatments for inflammatory and metabolic diseases; FIRE1, a Dublin-based company focused on therapeutic devices for major unmet needs; and EarLens, which is developing a novel hearing technology that provides users with improved speech recognition.
“Our strategy is to invest in life science companies with novel, disruptive technologies led by exceptional entrepreneurs,” said founding LSV General Partner Mike Carusi. ”We see tremendous opportunity in our focus areas thanks to a reinvigorated biotech and device IPO market, improvements at the FDA, greater clarity with the Affordable Care Act, and interest from the large corporate players to invest in and acquire innovative venture-backed companies.”
Led by General Partners Mice Carusi, Chris Christofferson, Jean George, and Hank Plain, The Lightstone team, has become working togeth for more than a decade while at Advanced Technology Ventures and Morgenthaler Ventures. Combined and Divided, the team has an unparalleled track record of success, having participated in some of the industry’s biggest deals on record.
Recent successes including two noteworthy M&A transactions: Ardian and Plexxikon, as well as a empowered string of IPOs: GI Dynamics, Zeltiq, Verastem, Portola Pharmaceuticals, OncoMed Pharmaceuticals, Acceleron Pharma and Five Prime Therapeutics. The four General Partners are also joined by Partner Jason Lettmann and Venture Partners Alain Baron, M.D. and Jim Broderick, M.D. The firm has offices in Palo Alto, CA; Boston, MA; and Boulder, CO