Delphi Ventures Closes $300 Million Fund VIII
Oversubscribed fund to continue Delphi’s long-term success in healthcare investing
Menlo Park, CA – June 10, 2008 Delphi Ventures, one of the nation's leading early stage healthcare venture capital firms, announced the closing of Delphi Ventures VIII, L.P., a $300 million venture fund. The closing of Delphi Ventures VIII brings the firm’s total capital raised to more than $1.1 billion.
Funding for Delphi Ventures VIII was committed largely from Delphi’s existing limited partners. “With the outstanding support of our limited partners, and an investment team that has been together since 2003, Delphi will remain a strong partner for healthcare entrepreneurs for years to come,” said David Douglass, Managing Member.
The new fund will continue the firm’s focus on early stage medical device and biotechnology investments. “We are privileged to work with biotech entrepreneurs as they seek to fund the clinical trials of novel molecules developed from innovative science and technology,” commented Deepa Pakianathan, Ph.D., Managing Member. Dr. Pakianathan has led Delphi’s biotechnology investment activities since she joined Delphi in 2001.
“This year marks the 20th anniversary of Delphi's formation," noted Doug Roeder, Managing Member. "The closing of Delphi VIII, our largest fund to date, is an important milestone and a great way to kick off the next 20 years of Delphi's support for healthcare entrepreneurs.”
Jim Bochnowski, David Douglass, John Maroney, Deepa Pakianathan, and Doug Roeder are the Managing Members of Delphi Management Partners VIII, LLC, the general partner of Delphi Ventures VIII.
About Delphi Ventures
Delphi Ventures was founded in 1988 as a venture capital firm focused on early stage healthcare investing, including medical devices, diagnostics and biotechnology. Over the past two decades Delphi has financed over 150 such enterprises, helping dozens of entrepreneurs successfully develop breakthrough medical therapies. More than 90 Delphi backed companies have either completed an initial public offering or have been acquired by a leading healthcare corporation. Notable investments include Alexza Pharmaceuticals, Applied Molecular Evolution, Ilypsa, Integrated Vascular Systems, InterVentional Technologies, MicroVention, Oratec Interventions, Salmedix, Seattle Genetics, TheraSense and TranS1.
Delphi Ventures www.delphiventures.com