Frazier Life Sciences Management, LP
Frazier Life Sciences is a longstanding biotech investment firm with venture and public strategies partnering with and building companies developing novel therapeutics.
In the firm's own words, from its website.
60 additional team members, 14 additional co-investors and affiliates, 19 additional investments, funds and LPs, 93 verified contacts (92 professional url, 1 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 4 dealswith EQT
Invests most often alongside EQT (4 shared deals).
pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
People to know
View all people- Managing PartnerWhy: Managing partner: runs the firmNo route on file yet
- PartnerWhy: Partner: part of the investment decisionProfile
- MemberWhy: Named with investment responsibilityProfile
Relationship network
101 connected entities4 observed rounds1 repeat counterparty
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Capital provider
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to Frazier Life Sciences Management, LP: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to Frazier Life Sciences Management, LP
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
13 companies on record, 0 new in 12 months
Investments on record
What these amounts mean“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| AirNexis Therapeutics, Inc. | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Alentis Therapeutics | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Angitia | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- Sectors
- healthcare, biotech
- Stages
- seed
- Geography
- boston, seattle
- Check size
- not stated; DFX does not estimate checks from round sizes
Team
65 current, 18 departed
Decision makers
- Albert Cha · Managing PartnerWhy this person: Managing partner: runs the firm; Named with investment responsibility
- Joe Cabral · PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibility; Confirmed current on the firm's own site 2026-10-01LinkedIn or profile link on file (firm website, their bio on the firm's website), confirmed 2026-10-01, confidence 90%
- Patrick Heron · MemberWhy this person: Named with investment responsibilityLinkedIn or profile link on file (firm website, their bio on the firm's website), confirmed 2026-10-01, confidence 90%
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 2 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Partner
- Member · 3 deals attributed
- Partner · 1 deal attributed
1 departed (kept with end dates)
- Patrick Heron · Managing Partner · ? to Sep 30, 2026 Inference
Contacts
1 firm phone, 92 professional url on record, each with its source. Values open with the complete profile.
Funds and LPs
6 vehicles, 1 LPs disclosed
Funds and vehicles
What these amounts meanGAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Frazier Life Sciences Xi, L.P. | Fund | 2022 form d first sale | Active deployment | $1.1B Mar 31, 2026 | 99 | $960M of $960M | Mar 18, 2022 |
| Frazier Life Sciences X, L.P. | Fund · ADV: Private Equity Fund | 2022 adv first reported | Active deployment | $781M Mar 31, 2026 | 72 | $0 of $617M | Dec 17, 2019 |
| Frazier Life Sciences Ix, L.P. | Fund | 2017 form d first sale | Harvest | $597M Mar 31, 2026 | 54 | $419M of $419M | Nov 1, 2017 |
Limited partners
- 2025-07-251 commitment to 1 fund · $110M disclosed
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| New York State Common Retirement Fund | PUBLIC INSTITUTIONAL POOL | Frazier Life Sciences XII, L.P. | $110M committed | committed Jul 25, 2025 | Fact Pension disclosure |
| Surdna Foundation Inc | FOUNDATION | Frazier Life Sciences XII, L.P. | $201,393 fair value on the foundation's return | reported as of Jun 30, 2025 | Fact IRS Form 990 / 990-PF e-file returns |
| Newton and Rochelle Beckercharitable Trust | FOUNDATION | Frazier Life Sciences Xi, L.P. | $268,112 fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
17 co-investors · on 5 other DFX graphs
Co-investors
Across DFX and the capital chainon 5 other DFX graphs · 16 capital paths ShowHide
- Sponsor-market profile (matched by same CRD)
- The same institution is held on Independent Sponsors, RIA and Wealth, Private Credit, Allocators, Private Equity, matched by identifier. See which records
Frazier Life Sciences Management, LP is the same institution as 5 records in Independent Sponsors, RIA and Wealth, Private Credit, Allocators and Private Equity.
DFX found 5 relationships across 5 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Frazier Life Sciences Management, LP sits on 16 traced paths of capital across the graphs.
DFX traced 16 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
5 dated events, 69 observations from 3 sources
Timeline
- Mar 31, 2026Frazier Life Sciences Xii, L.P. first reported on Form ADV by Frazier Life Sciences Management, LP (Venture Capital Fund), GAV $1,350,596,623
- Jul 25, 2025NYSCRF commits $110,000,000 to Frazier Life Sciences XII, L.P. (“Frazier LS”) (Frazier Life Sciences Management, L.P.), closed 2025-07-25, existing relationship
- Mar 17, 2025Frazier Life Sciences Management, LP filed the first Form D for Frazier Life Sciences XII, L.P. (fund 12), its next fund after Frazier Life Sciences Xi, L.P. (vintage 2022)
- Mar 31, 2022Frazier Life Sciences Xi, L.P. first reported on Form ADV by Frazier Life Sciences Management, LP (Venture Capital Fund), GAV $987,237,178
- Nov 18, 2021Frazier Life Sciences Management, LP first filed Form ADV (IA)
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 31, 2026 · 8 private fundsShowHide
- Headquarters
- Palo Alto, CAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- frazierls.com
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 8 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $7.0Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $7.0Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 64
- Owners on Schedule A
- Frazier Life Sciences Management, L.L.C. (General Partner), owns under 5%; Galena Holdings, LLC (Limited Partner), owns 50% to 75%; Topper Family, LLC (Limited Partner), owns 50% to 75%
Classification history
Classification history
Every classification this record has carried2 on recordShowHide
- Sep 23, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 44% of 8 private funds
- Sep 12, 2026Private equity with venture activity (probable, 75%)Registered adviser; venture funds are 38% of 8 private funds
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Mar 30, 2024 | Fact | Form ADV |
| First Form ADV filing | 2021-11-18 | Mar 31, 2026 | Fact | Form ADV |
| First Form ADV filing | 2021-11-18 | Mar 30, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-30 | Mar 30, 2024 | Fact | Form ADV |
| SEC status | Approved | Mar 31, 2026 | Fact | Form ADV |
| SEC status effective | 2021-12-17 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 0 | Mar 30, 2024 | Fact | Form ADV |
| Business phone | Mar 31, 2026 | Fact | Form ADV | |
| Business phone | Mar 30, 2024 | Fact | Form ADV | |
| Description | Sep 30, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 14, 2026 | Fact | ||
| Employees | 64 | Mar 31, 2026 | Fact | Form ADV |
| Employees | 53 | Mar 30, 2024 | Fact | Form ADV |
| Headquarters | Palo Alto, CA | Mar 31, 2026 | Fact | Form ADV |
| Headquarters | Palo Alto, CA | Mar 30, 2024 | Fact | Form ADV |
| Office address | Mar 31, 2026 | Fact | Form ADV | |
| Office address | Mar 30, 2024 | Fact | Form ADV | |
| Legal form | Limited Partnership | Mar 31, 2026 | Fact | Form ADV |
| PE funds reported | 3 | Mar 31, 2026 | Fact | Form ADV |
| Portfolio page | Oct 1, 2026 | Fact | ||
| Portfolio page | Sep 30, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 14, 2026 | Fact | ||
| Private funds reported | 8 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 8 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 8 | Mar 30, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $7.0B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $7.0B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $2.7B | Mar 30, 2024 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $7.0B | Mar 31, 2026 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $3.6B | Mar 30, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Sep 29, 2026 | Fact | Form ADV |
| Stated geography | Boston, seattle “geography words on the home page” | Sep 30, 2026 | Fact | |
| Stated geography | Boston, seattle “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | Boston, seattle “geography words on the home page” | Sep 14, 2026 | Fact | |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Sep 30, 2026 | Fact | |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | Healthcare, biotech “sector words on the home page” | Sep 14, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 30, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | seed “stage words on the home page” | Sep 14, 2026 | Fact | |
| Team page | Sep 30, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 14, 2026 | Fact | ||
| Venture funds reported | 4 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 4 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 3 | Mar 30, 2024 | Fact | Form ADV |
| Website | Mar 31, 2026 | Fact | Form ADV | |
| Website | Mar 30, 2024 | Fact | Form ADV | |
| Site title | Sep 30, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersPrivate equity with venture activity, probableShowHide
Registered adviser; venture funds are 44% of 8 private funds
- importance
- gav: 0.76 · funds: 0.33 · people: 1 · investments: 0.43 · scale basis: Venture-typed funds only (Private equity with venture activity): 4 funds, $3.3B of $4.1B reported · co investors: 0.5
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: 2024-02-15
- emerging manager
- fund count: 6 · reported gav: $4.1B · first adv filing: 2021-11-18 · years since first filing: 4.9
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- LP commitment made2025-07-25source on record
- Adviser's first ADV filing2021-11-18source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.