Lilly Asia Ventures has secured a $40m commitment for its fifth biosciences fund, LAV Biosciences V, from San Francisco’s city and county pension fund.
Lilly Asia Ventures, a regional corporate venturing subsidiary of pharmaceutical firm Eli Lilly, has attracted $40m in capital from public pension fund San Francisco City & County Employees’ Retirement System, Pensions and Investments has reported.
The financing was raised for a vehicle dubbed LAV Biosciences Fund V. It is the fifth biosciences fund to be formed by Lilly Asia Ventures and was launched in January 2019 with a $750m target size.
The fund had already received an initial $100m commitment…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
