Third Rock debuts with $378M life sciences venture fund

Boston, USA-based Third Rock Ventures has announced the launch of the firm's first fund with $378.0 million of committed capital. The fund will invest in life sciences companies at the early stages of formation. The founding partners of Third Rock Ventures are industry veterans with a proven track record of founding and building numerous successful life sciences companies. The team will use its first-hand operating experience to fund and launch innovative biotechnology and medical device companies. By effectively translating important scientific ideas into new biotechnology and device companies, the Third Rock team will respond to the growing demand for innovation by industry, research institutions, and patients.

"Our goal is to be the preferred partner for entrepreneurs, as our team offers them our deep industry knowledge, our strong network, and our passion for launching market-leading life sciences companies," said Mark Levin, partner of Third Rock Ventures.

The Third Rock team will create a portfolio of investments in companies with therapeutic products and medical devices that have the potential for broad applications, market leadership and extraordinary value creation. Specifically, the firm's investment focus will center on companies with "product engines," or technologies that are capable of creating products in multiple diseases. It will use an entrepreneur-centered approach, actively collaborating with and supporting entrepreneurs to guide the growth, strategy, leadership and corporate culture of portfolio companies.