---
title: "July 2025 Life Sciences Mega Close: Frazier Life Sciences Closes $1.3B Fund XII"
description: "Frazier Life Sciences closed Fund XII at over $1.3 billion on July 31, 2025 — one of the largest biotech venture funds closed in July 2025."
date: 2025-07-31T00:00:00.000Z
tags: ["fund-close", "2026-vc-news", "venture-capital", "healthtech", "market-analysis"]
source: https://venturecapitaltracker.com/nyc-vc-fund-news-2025-07-31-frazier-life-sciences-1-3b-fund-xii
---

# July 2025 Life Sciences Mega Close: Frazier Life Sciences Closes $1.3B Fund XII

> Frazier Life Sciences closed Fund XII at over $1.3 billion on July 31, 2025 — one of the largest biotech venture funds closed in July 2025.

Frazier Life Sciences closed **Fund XII at over $1.3 billion** on July 31, 2025 — an oversubscribed biotech venture vehicle and one of July's largest fund closes globally.

## Key facts

- **Firm:** Frazier Life Sciences
- **Date announced:** July 31, 2025
- **Fund size:** $1.3B+ (oversubscribed)
- **Focus:** Company creation + early-stage biopharmaceuticals
- **HQ:** Palo Alto, CA
- **Managing Partner:** Patrick Heron

## Investment strategy

Primarily **company creation** and early-stage private biopharma — consistent with prior FLS venture funds since the dedicated program launched in 2016.

## Why this matters for NYC life sciences

NYC's growing biotech cluster (Dimension Capital, Star51, etc.) benefits from downstream capital availability — Frazier's $1.3B Fund XII adds significant dry powder for life sciences graduates from NYC seed platforms.

## Sources

1. BusinessWire (July 31, 2025): https://www.businesswire.com/news/home/20250731285238/en/Frazier-Life-Sciences-Closes-Oversubscribed-1.3-Billion-Venture-Fund