Is this a new trend? Or are the public markets not offering enough investment opportunities with favorable risk-return trade offs?
Following blurb copied from Fortune/TermSheet:
Last Tuesday’s big deal was that cancer immunotherapy startup Juno Therapeutics had raised $134 million in Series B funding from “ten public mutual funds and healthcare-focused funds.” This came less than one year after the Seattle-based company had raised $176 million from a group of venture capital funds, Jeff Bezos and strategic partners like The Fred Hutchinson Cancer Research Center, Memorial Sloan-Kettering Cancer Center and the Seattle Children’s Research Institute.
Now we’ve learned that Fidelity Investments led the new round, making it one of the mutual fund manager’s earliest-stage private deals to date (it notably led Uber’s recent round). No word yet on the other nine participants.
(Source: Fortune)
