Frazier Healthcare Partners has announced the closing of its first dedicated public life sciences fund.

Frazier Life Sciences Public Fund is closing on nearly $830 million in capital commitments, which exceeds its target. It is a long-only fund that will invest in small- and mid-cap public biotech companies.

Frazier Healthcare Partners, based in Seattle, is a provider of private equity capital to healthcare companies. The firm, founded in 1991, prefers to make more substantial investments from a dollars perspective and pursues a wide range of investment types, including company creation and venture capital to buyouts of profitable lower-middle market companies.