Lightstone Ventures recently announced the closing of Lightstone Ventures III, securing $375 million to invest in early-stage firms that develop high-impact technologies that can change lives.
Lightstone Ventures, the venture capital firm that invests in biotech and medtech companies, recently announced the closing of Lightstone Ventures III, securing $375 million in funding commitments to invest in early-stage firms that develop high-impact technologies that can change lives.
The new fund closed with strong support from new and existing limited partners and ended oversubscribed. Lightstone is known to help growing companies with significant potential to create life-changing therapies and technology. It has also invested in over 30 firms since it started in 2012.
The company has invested over $580 million in firms such as Claret Medical, Alchemab Therapeutics, ALX Oncology, Cyteir Therapeutics, Catamaran Bio, Disarm Therapeutics, Gemini Therapeutics, Nimbus, LocanaBio, Ra Pharma, Willow, and Tizona.
Lightstone focuses on biopharmaceutical and medical technology, with a particular interest in companies that develop first-in-class drugs, next-generation cancer therapeutics that harness the immune system, and groundbreaking medical technology that addresses major diseases across cardiovascular and neurology, immunology, and ophthalmology branches.
“We are very excited for the future of Lightstone and the important work that this new fund will enable,” said Mike Carusi, General Partner at Lightstone in a statement.
“Our investment philosophy is guided by a commitment not just to exciting ideas but to the people leading them forward. This is an important moment for the firm that builds upon the successes we have had with our previous two funds and the companies we have invested in that are already making an impact on patients. We look forward to continuing our partnership with driven entrepreneurs developing therapies and technologies that have the potential to be industry-leading products,” added Carusi.
Along with news of the new fund, Lightstone announced that it appointed Christina Isacson, Ph.D., as partner and Young Kwon, Ph.D., as operating partner.
Dr. Isacson brings 16 years of biotech experience to her new role. Before Lightstone, she served as a founding team member and as chief business officer at Magenta Therapeutics. She was also part of Decibel Therapeutics’ founding team. Dr. Kwon also brings significant experience to Lightstone, having served a variety of C-suite executive positions at Momenta Pharmaceuticals for 10 years.
“We are delighted to welcome Christina and Young to the team. One of Lightstone’s key differentiators is our ability to leverage our team’s leadership experience to provide hands-on guidance to the founders and teams we support. Both Christina and Young have held multiple C-suite level leadership roles, and they bring significant operational experience that will prove incredibly valuable to our portfolio companies,” commented Jason Letterman, general partner at Lightstone, in the same press release.
Lighstone Ventures has offices in California, Massachusetts, Ireland, and Singapore.
