Thomas, McNerney & Partners closes fund with $375 million commitments

By Elaine Rigoli

Tampa, Fla., Sept. 6 - Thomas, McNerney & Partners said Wednesday that it has closed its second fund, Thomas, McNerney & Partners II, LP with $375 million in limited partner commitments.

Consistent with the firm's inaugural $216 million fund raised in 2002, Thomas, McNerney & Partners II will focus on leading investments in biotechnology, pharmaceutical and medical device companies across all stages of development.

The company said the fund will have the flexibility to invest in a broad range of companies including those at the start-up, preclinical and clinical stage, as well as in companies seeking capital for commercialization, asset acquisitions, restructuring and consolidation.

The partnership will seek opportunities in which more than $5 million and up to $40 million may be invested over the life of the company and where the firm can actively participate as a lead investor.

"The size of this fund will allow us to increase our capital commitment per company and to expand our overall investment reach while still enabling us to invest in a variety of opportunities, regardless of stage and sector," said James Thomas, co-founder and partner, in a statement.

Thomas, McNerney & Partners is a health care venture capital firm that invests in life science and medical technology companies, with offices in Stamford, Conn.

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