Philly Life Sciences-Focused VC Firm, 1315 Capital, Nabs $300M+ for Second Fund
A Philadelphia venture capital firm 1315 Capital, which focuses on early to mid-stage investments primarily for pharma and medtech companies, has made the first close for its second fund, raising more than $300 million.
The firm’s fund 1315 Capital II made its first close. It plans to invest $10 million to $30 million in specialty pharma, healthcare services and medtech companies. Another wrinkle to its strategy is to create companies by forming management teams around acquired or licensed technology, which it refers to as “jumpstarts”. Half of its eight investments took this form, including CHC Solutions, Encore Dermatology, Genoptix, and Onkos Surgical.