June 6, 2019 (BOSTON) – International law firm Proskauer represented Third Rock Ventures, LLC on the closing of Third Rock Ventures V, LP (Fund V), raising $770 million in an oversubscribed fund. With strong support from existing investors as well as new, Fund V will continue Third Rock’s goal to execute on its strategy of creating innovative healthcare companies to make a meaningful difference in the lives of patients and their families.
“We are proud of our long history working with Third Rock,” comments Robin Painter, partner and global co-head of the Private Funds Group. “TRV has dedicated themselves to making a significant impact on the lives of patients and we look forward to seeing what changes these technologies bring.”
Proskauer has represented Third Rock since its inception in 2007. Since then, they have raised $2.7 billion to create companies focused in many different areas of high unmet medical need including cancer, neurological disorders, rare genetic diseases, immune disorders, and cardiovascular diseases. The firm has launched more than 50 companies, all sharing a common goal of addressing significant medical needs through bold ideas and transformative science.
The Proskauer team included partners Robin Painter and Galen Lewis, associates Joe Fielding and Carol Sullivan (Private Funds), as well as partner Scott Jones and associate Philip Lenertz (Tax) and senior counsel Adam Scoll (ERISA).
Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising asset managers, investment funds and their advisers, financial institutions and institutional investors across the asset class. The cross border team of over 150 lawyers is based in the U.S., UK, Asia and Latin America and includes specialists in tax, ERISA, regulation, financial services, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.