Healthcare and life sciences investment firm Santé Ventures reported on Wednesday that it has raised USD250m in its oversubscribed healthcare and life science fund, Fund III, exceeding the target by 25%.

Fund III secured capital commitments from over 30 limited partners, including new investor Pennsylvania Public School Employees' Retirement System (PSERS).

Upon close, Fund III will be utilised to build a portfolio of 20-25 investments. To date, Fund III has committed 6.5% of capital into several investments, including Cryosa for the treatment of sleep apnea, DyaMX for the treatment of Type II Diabetes, as well as Geneos Therapeutics, a neoantigen-based personalized cancer therapy.

Fund III is almost twice as large as its predecessor. Investors in previous funds accounted for approximately one-half of the total capital.