Frazier Healthcare Partners has announced the closing of Frazier Life Sciences XI with more than $987 million in capital commitments.

The new fund, which exceeded its target of $800 million, is Frazier Life Sciences’ fourth venture fund focused on biopharmaceuticals.

The firm’s announcement of the new fund comes only a few months after it had announced the closing of an $830 million public-market fund.

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.