Frazier Makes It Official: Seeking to Raise New $400M Fund

Xconomy Seattle — 

Frazier Healthcare Ventures is officially out raising a new $400 million fund, according to a regulatory filing.

The Seattle-based venture firm, which has an office in Menlo Park, CA, said today in the filing that it is seeking to raise as much as $400 million in a new venture fund, the seventh in its history dating back to 1991. Alan Frazier, Nader Naini, Bob More, James Topper, Nathan Every, and Patrick Heron are the named partners in the document.

If Frazier can close the deal, it will be the firm’s first new fund since the $600 million Frazier Healthcare VI, which was announced in November 2007. Founder and managing partner Alan Frazier said in an interview with Xconomy in January that while many biotech VC firms were going into “hibernation” because of the lack of returns, his firm was in position to survive the financial crisis. Now that the firm is in fundraising mode, it will surely be talking up the winners in its recent portfolio, including Seattle-based Calistoga Pharmaceuticals, Oakland, CA-based Cerexa, San Diego-based Calixa Therapeutics, Carmel, IN-based Marcadia Biotech, Cambridge, MA-based Alnara Pharmaceuticals, and Boulder, CO-based Clovis Oncology.