BALA CYNWYD, PA--(Marketwired - May 20, 2015) - Osage University Partners (OUP), a Philadelphia area-based venture capital firm, today announced the closing of Osage University Partners II, L.P. at $215 million, exceeding its target of $200 million. OUP invests exclusively in startups that are commercializing university research.
Osage University Partners II ("OUP II") has signed exclusive contracts with 16 University Partners, including some of the leading universities and research institutions in the U.S. The fund also has non-exclusive Associate Partner relationships with an additional 54 universities and research institutions.
Consistent with the strategy employed by its first fund, OUP II will invest in spinouts from its partner universities and research institutions. Typically, these institutions hold co-investment rights in their spinouts, which they assign to OUP II in return for a share of the fund's profit. Given the breadth of invention and innovation occurring in university laboratories, the fund will invest across a wide range of life science and technology sectors. OUP II will invest in companies across all stages of development, from seed to late stage/pre-IPO.
"We are grateful for the support that our many returning investors and new limited partners have shown for our unique investment model and the OUP team," commented Bill Harrington, managing partner at Osage University Partners. "We look forward to working with world-class entrepreneurs and venture investors to help make university discoveries reality and generate exceptional returns for our limited partners in the process."
Osage University Partners' initial fund has enjoyed several significant recent exits, including Receptos (RCPT), Aerie (AERI), Otonomy (OTIC), Immune Design (IMDZ), and AGTC (AGTC). The Managing Partners of OUP II are Marc Singer, William Harrington, MD, and Robert Adelson, each of whom has over fifteen years of venture investment experience. They are joined by Founding Partner Louis Berneman, a nationally recognized thought leader on university tech transfer.
"OUP is proud to partner with world-class universities and research institutions that have and will serve as the source of fundamental discovery and invention upon which some of the most exciting and important companies will be built," said Founding Partner Louis Berneman. "In addition to investing in world class university spinouts, we are committed to promoting the entrepreneurial commercialization activities of our partner institutions."
Osage University Partners is part of a family of investment funds within Osage Partners, which is based just outside Philadelphia, PA and manages in excess of $400 million. www.osageuniversitypartners.com