Done with biotech

Three Arch Partners has made only a handful of biotech investments since its formation in 1993, and it is not looking for any more. The VC said last week it has no plans to raise another multi-sector healthcare fund, and instead will focus on managing its active portfolio while leaving open the possibility of raising a healthcare services only fund.

"We've done relatively few investments in biotech and have been opportunistic, but it's not a sector in our power alley," Partner Wilfred Jaeger told BioCentury...