Bloomberg is reporting that New York based venture capital firm Psilos Group is planning on hitting the road to raise $450M for its new healthcare fund. Quite brave in these cash-starved times.

The VC has mostly delved in healthcare IT and service companies, but has made some spec pharma investments in the past, including Acuity Pharmaceuticals which merged with Opko and whose lead RNAi drug just failed, and Valera Pharmaceuticals which sold itself to Indevus some years back.

Psilos new fund will focus on more of the same, healthcare IT, tools and services companies – all businesses that can benefit from the Obama’s administration new legislation and increased funding.

Psilos’s past investors have included Health Evolution Partners, a San Francisco fund run by David Brailer, who was President George W. Bush’s national coordinator for healthcare IT, and whose fund is backed by $700M from the California Public Employees’ Retirement System.

This would be Psilo’s fourth fund. Its three previous funds total $557M and have been spread across 40 companies since 1999. Psilos plans to complete the raise later this year.

Image from ibfconferences

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