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Biotech investor to exit Kleiner Perkins, launch life sciences fund

Biotech investor Beth Seidenberg will no longer be a general partner in future funds raised by Kleiner Perkins Caufield & Byers and will instead set up her own life sciences venture fund that will focus on biotech and health investing, Recode reported, citing people familiar with her plans.

Seidenberg, the only Kleiner general partner who expressly focuses on life sciences, will remain a general partner in existing funds, according to a Kleiner spokesperson. Kleiner reaffirmed its commitment to the life sciences sector.

A report from Axios noted that Seidenberg is aiming to raise between $350 million and $400 million for her new fund.