Foresite Capital

What Foresite Capital does

Foresite Capital is a San Francisco-based, multi-stage healthcare and life sciences investment firm founded in 2011 by Jim Tananbaum, MD. The firm manages over $3.5 billion in assets under management across six closed funds (Fund I $100M in 2013 through Fund V + Opportunity Fund $969M in 2021, with a $900M follow-on raise announced in 2026) and pursues a full-lifecycle investing approach spanning incubation, private financings, crossover rounds, IPOs, and alternative structures such as SPACs. Its core technology is the proprietary Foresite Labs incubation platform, led by advisor Vik Bajaj, which applies data science and AI to identify and create new healthcare companies — successfully producing portfolio firms such as Alumis (TYK2 immunology) and Xaira Therapeutics ($1B+ AI drug design). The investment team combines MD/PhD scientific depth with data-science-driven sourcing, targeting therapeutics, life sciences tools, healthcare tech, and healthcare services, with a stated focus on immunology, neuro, and oncology.

The firm earns revenue through two streams typical of private investment managers: recurring management fees on committed AUM across its six funds, and episodic carried interest / realized returns on successful portfolio exits. Pricing is not publicly disclosed; fund interests are offered only to qualified institutional limited partners under SEC private placement exemptions. Distribution occurs via direct institutional LP outreach, direct deal-by-deal portfolio investments (as lead, co-lead, or syndicate partner), the Foresite Labs incubation channel, and SPAC sponsorship (FS Development Corp. II / Pardes Biosciences). The portfolio spans dozens of active and alumni companies across therapeutics, biopharma, life sciences tools, and healthcare tech/services, with notable exits including Turning Point Therapeutics ($4.1B BMS acquisition), Peloton Therapeutics ($2.2B Merck), 10x Genomics (IPO), Foresight Diagnostics (up to $450M Natera), and Candid Therapeutics (UCB acquisition announced June 2026). The firm is SEC-registered as an investment adviser under the Investment Advisers Act of 1940 and is recognized on TIME America's Top VC Firms 2025 and the Forbes Midas List 2021.

Cross-border asset origination from China into U.S. company formation (Slate Medicines in-licensing from DartsBio; Avenzo licensing ADCs from DualityBio) is a distinctive sourcing strategy, and the firm maintains a diversified go-to-market combining earned media, industry conference participation (JPM Healthcare Conference, Korea BIO Global IR @JPM, AGBT), thought leadership via The Full Ratchet podcast and Medium/Foresite Labs Notebook, and brand credibility from recognition lists. Headcount is approximately 50-70+ professionals including six Managing Directors, four Partners, three Principals, a CFO/Managing Director, CCO/Assistant General Counsel, dedicated IR/Capital Formation and Portfolio Valuation functions, and an advisory board that includes former HHS Secretary Alex M. Azar II, Vikram Bajaj PhD, and Mathai Mammen.

Name

Foresite Capital

Legal name

Foresite Capital Management, LLC

Website

http://www.foresitecapital.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

Foresite Capital is a multi-stage healthcare and life sciences investment firm managing over $3.5 billion across six closed funds. Founded in 2011, the firm uses data science and its Foresite Labs incubation platform to fund and create companies at the intersection of biology and technology.

Ownership category

akta.pro rank

Product category

Healthcare Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)

SIC

Investment Advice (6282)

akta.pro primary industry

Late-Stage Venture Capital (Series C+) (FSANAAAC)

akta.pro secondary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Healthcare venture capital
• Life sciences investing
• Biotech investment
• Healthcare incubation
• Venture capital funds

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management fees on committed capital: Foresite Capital earns recurring management fees on assets under management (AUM) across its 6 closed funds, with AUM totaling over $3.5 billion. AUM includes current market value of advisory client investments and uncalled capital commitments, updated quarterly.
2. Carried interest / investment returns: As a private equity/venture capital firm, Foresite Capital earns carried interest and realized returns on successful portfolio company exits (e.g., 10x Genomics IPO, Peloton Therapeutics acquisition by Merck for up to $2.2B, Turning Point Therapeutics acquired by Bristol Myers Squibb for $4.1B, Foresight Diagnostics acquired by Natera for up to $450M, Candid Therapeutics acquisition announced June 2026).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Foresite Capital is a multi-stage venture capital investment firm that funds healthcare and life sciences companies from incubation through IPO and beyond, deploying capital across dedicated funds (Funds I–V plus an Opportunity Fund and a subsequent $900M raise totaling over $3.5B in AUM). Its proprietary Foresite Labs incubation platform creates new healthcare companies using data science and AI, and the firm supplements direct investing with alternative financing structures such as SPACs and crossover rounds into public companies. The firm earns recurring management fees on committed capital and carried interest on successful portfolio exits.

Product overview

Foresite Capital is a multi-stage healthcare and life sciences investment firm — not a packaged software product. Its core offering is full-lifecycle venture capital investing (from incubation through IPO and beyond), anchored by its data science-driven investment team. The offering is organized as a platform-plus-portfolio architecture: (1) the core Foresite Capital firm and its multi-fund strategy (currently including Fund V / Opportunity Fund totaling $969M raised in 2021 and a subsequent $900M raise), (2) Foresite Labs, the firm's internal incubation platform that creates new companies using AI and data science and has produced names like Alumis and Xaira Therapeutics, (3) the actively managed portfolio segmented into Biopharmaceutical, Healthcare Tech & Services, Life Sciences, and Therapeutics categories (with Alumni representing exited positions), and (4) capital-markets vehicles such as the FS Development Corp. II SPAC used to take portfolio company Pardes Biosciences public. Together, these layers form an integrated investing-and-company-building platform serving entrepreneurs and limited partners across the healthcare ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• Foresite Labs: In-house data-science-driven incubation platform that creates and launches healthcare and life sciences companies.

Products and services

• Foresite Capital Multi-Stage Healthcare and Life Sciences Investment Platform Full-lifecycle, multi-stage venture capital investing service for healthcare and life sciences companies, covering incubation through IPO and beyond, with capital plus strategic, scientific, and operational support from investment analysts, MD/PhDs, and data scientists. For portfolio company founders, management teams, and institutional limited partners.
• Foresite Labs Incubation Platform Data-science-driven incubation platform that creates and launches new healthcare companies. Successfully incubated portfolio companies include Alumis (TYK2 inhibitors for immune-mediated diseases) and Xaira Therapeutics (AI-driven drug design). For entrepreneurs and Foresite's own portfolio origination engine.
• FS Development Corp. II (SPAC) / Pardes Biosciences Business Combination Special purpose acquisition company sponsored by Foresite Capital, used to take portfolio company Pardes Biosciences public via a business combination; the structure provides an alternative financing route for late-stage portfolio companies.

Quantifiable outcome

• $4.1B acquisition of portfolio company Turning Point Therapeutics by Bristol Myers Squibb
• +4 more outcomes

Named customers18 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature3 records

Partnerships

Four partnerships are on record, tiered key asset origination partner, flagship spac vehicle, flagship incubation platform and technology partner.

• DartsBio Pharmaceuticals (Guangdong), Ltd.key asset origination partnerStrategic or Co-development PartnerDartsBio Pharmaceuticals is the Chinese biotech originators of SLTE-1009 (DS009), an anti-PACAP monoclonal antibody. Slate Medicines in-licensed the asset from DartsBio and launched with $130M Series A co-led by Foresite Capital, RA Capital, and Forbion.
• FS Development Corp. II (FSII)flagship spac vehicleStrategic or Co-development PartnerFS Development Corp. II (Nasdaq: FSII) is a special purpose acquisition company sponsored by Foresite Capital. It entered into a merger agreement with Pardes Biosciences on June 29, 2021, leading to Pardes' business combination and SEC registration on Form S-4.
• Foresite Labsflagship incubation platformStrategic or Co-development PartnerForesite Labs is the firm's affiliated incubation platform led by Vik Bajaj, supporting next-generation healthcare entrepreneurs through data-science driven company creation. Successfully incubated portfolio companies include Alumis (TYK2 immunology) and Xaira Therapeutics ($1B+ AI drug design).
• Paragon Therapeuticstechnology partnerStrategic or Co-development PartnerParagon Therapeutics developed the THETA™ blood-brain barrier penetration platform, which Korsana Biosciences leveraged for its lead program KRSA-028 (a next-generation shuttled anti-amyloid antibody for Alzheimer's).

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• OrbiMed: OrbiMed is one of the largest healthcare-dedicated investment firms globally, investing across biopharma, medtech, and healthcare services. It is a direct peer to Foresite Capital because it pursues a similar multi-stage healthcare thesis and frequently co-invests (OrbiMed participated in Pinnacle Medicines' earlier rounds).
• 5AM Ventures: 5AM Ventures is an early-stage venture capital firm focused on life sciences, investing in formation-stage biotech companies out of academic and industry origins. It is a direct peer to Foresite Capital because both back early-stage life sciences platforms and frequently co-invest in clinical-stage biopharma.
• RA Capital Management: RA Capital Management is a multi-stage healthcare and life sciences investment firm based in Boston. It is a direct peer of Foresite Capital because both pursue full-lifecycle healthcare VC, frequently co-invest (e.g., co-led Slate Medicines $130M Series A, Pinnacle Medicines $89M Series B), and compete for the same clinical-stage biopharma deals.
• Forbion: Forbion is a European healthcare-dedicated venture capital firm investing across biopharma and life sciences. It is a direct peer to Foresite Capital because both co-led the same clinical-stage biotech rounds (Forbion co-led Slate Medicines' $130M Series A with Foresite) and pursue multi-stage, science-driven healthcare investing.
• Third Rock Ventures: Third Rock Ventures is a healthcare-focused venture firm that builds biotech companies from scratch around breakthrough science. It is a direct peer to Foresite Capital because both operate company-creation models (Third Rock's model is the direct analog of Foresite Labs) and invest across therapeutics and platform technologies.
• ARCH Venture Partners: ARCH Venture Partners is a healthcare- and technology-focused venture firm that co-founded and incubated multiple category-defining biotechs. It is a direct peer to Foresite Capital because both incubate companies (ARCH pioneered the model Foresite Labs now operates) and pursue deep-science, technical biotech theses with MD/PhD investment teams.
• New Enterprise Associates (NEA): NEA is a large multi-stage venture capital firm with a significant healthcare practice that invests across therapeutics, medical devices, and healthcare services. It is a direct peer to Foresite Capital because both lead clinical-stage biotech rounds (NEA co-led Abcuro's $200M Series C with Foresite) and operate full-lifecycle strategies.
• Venrock Healthcare Partners: Venrock is a multi-stage venture firm with a healthcare practice investing across therapeutics, diagnostics, and digital health. It is a direct peer to Foresite Capital because it pursues a similar science-driven, multi-stage healthcare thesis and frequently co-invests in clinical-stage biotech rounds.
• Atlas Venture: Atlas Venture is an early-stage biotech venture firm that builds and invests in new therapeutics companies. It is a direct peer to Foresite Capital because both pursue company-creation/incubation models in biotech (analogous to Foresite Labs) and invest in platform technologies and clinical-stage assets.

Broad incumbents

• Andreessen Horowitz (a16z Bio): Andreessen Horowitz's Bio fund invests in biotech and life sciences as part of a broader, multi-stage technology venture platform. It is a broad incumbent peer to Foresite Capital because both back AI-driven biology (a16z Bio overlaps with Foresite's AI-drug-discovery thesis) and clinical-stage therapeutics, though a16z operates at a much larger AUM scale and across non-healthcare sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ForesiteCapital
• LinkedInlinkedin.com/company/foresite-capital-management

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments240 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foresite Capital