Bonderman-Backed Firm Raises $600 Million in Biotech Boom

Vida Ventures, a life-sciences firm backed by TPG co-founder David Bonderman, has closed a $600 million fund, more than twice the size of its first vehicle.

The Boston-based venture capital firm launched in 2017 largely with money from family offices, such as Bonderman’s Wildcat Capital Management. The second fund, which exceeded its target of $450 million, raised capital from about 100 investors, including the endowments for the Los Angeles and San Francisco campuses of the University of California and for the California Institute of Technology, Vida Co-founder Arie Belldegrun said.

The rapid growth of Vida reflects the bullishness of biotech ...