US-based merchant bank Burrill & Company has made a second closing of its latest healthcare fund at $505m after corporations joined.

The fundraising followed the $2.6bn raised by venture capital firm New Enterprise Associates earlier this year, with more than $700m targeted for life sciences.

Although corporations are known to have joined Burrill’s fund as limited partners, $200m of the total came from Rusnano, a Russia state-backed investment group, according to news provider Fierce Biotech. 

Accountants PricewaterhouseCoopers and US trade…

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