For $550M fourth fund, venBio adds firepower for later rounds 

In closing its latest and largest fund at $550 million, venBio is aiming to be just as selective with its investment choices as it has in the past while reserving enough capital to maintain stakes in its portfolio companies as a larger proportion of them chooses the IPO route.

venBio’s Aaron Royston told BioCentury that while the firm is targeting the same number of investments as it did for its $394 million third fund, the new venBio Global Strategic Fund IV allows it the flexibility to contribute meaningfully to crossover rounds...