Clarus Ventures, a venture firm specializing in life sciences investments with offices in Cambridge, MA, and South San Francisco, announced today that it has raised a $660 million fund—the company’s second fund since its founding barely two years ago by a group of former partners of MPM Capital.
Clarus said it plans to invest between $20 million and $60 million in each of its portfolio companies, mainly in the biotech, specialty pharmaceuticals, and medical devices arenas. The firm will invest in both established companies with strong revenue growth and profitability, as well as newer ventures with “breakthrough products and technologies,” according to its statement.
Clarus launched in 2005 with a $500 million fund. Some 90 percent of that money is now committed, the company said, explaining the need to raise a new fund. Despite the firm’s Kendall Square outpost, none of the 13 current portfolio companies listed on its website are based in Massachusetts. But the venture firm was an investor in Hypnion, of Lexington, MA, which Eli Lilly bought last year for $315 million—putting Hypnion in fourth place on our list of top Massachusetts M&As of 2007.
Author: Robert Buderi
Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative.
Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.
View all posts by Robert Buderi