J.P. Morgan Raises Over $500M for First Biotech Venture Capital Fund

J.P. Morgan Private Capital announced the successful completion of its inaugural biotechnology-focused capital fund, 270 Life Sciences Private Capital Fund I. The fund attracted over $500 million in funding from a diverse array of investors. JPMorgan Chase & Co., family offices, corporate associates, institutional allocators, and high-net-worth individuals provided substantial support to the fund. Regardless of the stage, modality, geography, or therapeutic area of investment, the fund will concentrate on private biotechnology companies. Stephen Squinto, Chief Investment Officer and Managing Partner of J.P. Morgan Life Sciences Private Capital, stated in an interview with Endpoints News that the fund's primary objective is to make 20 to 25 investments, with a focus on early-stage companies.

In recent years, J.P. Morgan has been enhancing its involvement in biotech funding. A life sciences-focused private equity team was established by J.P. Morgan Asset Management in 2022 to provide support to early and growth-stage biotech companies. J.P. Morgan Asset Management's private capital division raised a $100 million Series A round for Enlaza Therapeutics in April 2024. The purpose of the funding was to advance the company's covalent biological platform and pipeline of novel protein medicines. This action is consistent with the broader industry trends, as other venture capital firms also allocate substantial funds to biotech and life sciences. For example, in January 2024, Goldman Sachs Asset Management closed its inaugural $650 million life science fund, West Street Life Sciences I. The fund initially allocated approximately $90 million to five biotech companies, including Septerna and MOMA Therapeutics.

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