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Adviser Profile

As of Date 03/18/2024
Adviser Type - Large advisory firm
Number of Employees 54 -3.57%
of those in investment advisory functions 25 -3.85%
Registration SEC, Approved, 07/07/2014
Other registrations (2)
AUM* 3,456,500,661 -3.74%
of that, discretionary 3,456,500,661 -3.74%
Private Fund GAV* 3,456,500,663 -3.74%
Avg Account Size 345,650,066 -3.74%
SMA’s No
Private Funds 9
Contact Info 415 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
4B 3B 3B 2B 2B 1B 558M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeVenture Capital Fund Count9 GAV$3,456,500,663

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Brochure Summary

Overview

A. Advisory Firm and Structure Foresite Capital Management, LLC (“Foresite Capital”) was formed in 2010 and was purpose-built to invest specifically and exclusively in the modern health economy. The firm seeks to combine traditional investment management techniques with cutting edge tools and methods to achieve significant ownership of what it believes are the most impactful and transformative healthcare companies across capital markets. Foresite Capital will seek to invest in impactful and transformative healthcare companies that Foresite Capital believes are positioned for significant growth, have a manageable risk profile and have the potential to become industry leaders in their field (each a “Portfolio Company” and collectively, the “Portfolio Companies”). The principal owner of Foresite Capital is James Tananbaum who directly, and indirectly through a family trust, owns Foresite Capital.1 James Tananbaum is the principal of Foresite Capital (“Principal”). Foresite Capital provides discretionary investment advisory services to several private pooled investment vehicles (“Funds”). Currently, Foresite Capital advises numerous multi-investment Funds. Foresite Capital also manages several special purpose vehicles (“SPVs”, and together with the Funds, the “Advisory Clients”) that were formed to co-invest with, or invest parallel to, the multi-investment Funds. Please see the important disclosures regarding potential conflicts of interests related to the Advisory Clients in Item 6. SPVs have been, and generally will be, established for the purpose of co-investing in a single Portfolio Company, or multiple Portfolio Companies, pursuant to the terms of the applicable operating agreement. Foresite Capital affiliates have co-invested in certain Portfolio Companies indirectly through Advisory Affiliates (as defined below), SPVs, or co-investment vehicles. The general partners of the Funds offer co-investment opportunities to existing investors, Foresite Capital employees, key persons, affiliates of Foresite Capital, and outside parties pursuant to the terms of the applicable limited partnership agreement. Pursuant to the offering documents, certain co-investments – those made prior to the “substantial investment date” (as defined in the relevant Client Agreement (as defined below)) and that are deemed to be an “excess opportunity” (defined as a certain percentage of capital commitments in each of the relevant Funds’ Client Agreements) – are offered pro rata to all investors of the applicable Fund. However, the general partner can approve amounts above an investor’s pro rata amount. In addition to the co-investments noted in the preceding sentence, the Fund’s general partners have offered, and will in the future offer, the right to participate, directly or indirectly, in certain portfolio companies to one or more existing investors, outside investors, groups, partnerships or corporations in the sole discretion of such general partner. Foresite Capital has formed non-Advisory Client co-investment vehicles through which certain employees and advisors of Foresite Capital and its affiliates invest alongside specific Funds in certain delineated Portfolio Companies, in accordance with the detailed terms and disclosures in the offering documents. Foresite Capital may form additional similar vehicles in the future and may in the future include outside investors in any such vehicle. Investors should refer to such Fund’s offering documents for more detail and discussion of potential conflicts of interest. 1 It should be noted that Dana Tananbaum owns Foresite Capital indirectly
through the same trust, but she is not a principal of Foresite Capital. She is, however, involved with investor relations and communications activity of Foresite Capital. The activities of each Advisory Client are governed by a limited partnership agreement or limited liability company agreement that specifies the investment guidelines and investment restrictions applicable to such Advisory Client (“Client Agreement”). Typically, affiliates of Foresite Capital serve as the general partners or managing members of each Advisory Client (each an “Advisory Affiliate”). Each of the Advisory Affiliates is a related person of Foresite Capital. Foresite Capital, together with the Advisory Affiliates, provides investment management and/or investment supervisory services. Typically, Foresite Capital, or an Advisory Affiliate, manages each Advisory Client’s investments pursuant to the Client Agreement. Each Advisory Affiliate retains investment discretion and management authority over the business and affairs of the Advisory Client for which it serves as general partner or managing member. B. Advisory Services Foresite Capital and the Advisory Affiliates, offer investment advice solely with respect to the investments made by the Advisory Clients. Such services consist of investigating, identifying, and evaluating investment opportunities, structuring, negotiating, and making investments on behalf of the Advisory Clients, managing and monitoring the performance of such investments, and disposing of such investments. The Advisory Clients invest in private and public company securities. Foresite Capital, or the Advisory Affiliates, generally have broad and flexible investment authority with respect to the Advisory Clients. Each Advisory Client’s investment objective and strategy is set forth in the respective Advisory Client’s Client Agreement. All investors in the Advisory Clients (“Investors”) are provided with a Client Agreement and, in the case of certain Advisory Clients, a confidential private placement memorandum or other offering documents prior to making an investment. Investors are urged to carefully review those documents prior to making an investment in an Advisory Client. Foresite Capital, or an Advisory Affiliate, tailors its investment advice to each Advisory Client in accordance with the Advisory Client’s investment objectives and strategy as set forth in the relevant Client Agreement and, if applicable, confidential private placement memorandum. Generally, Foresite Capital does not tailor its advisory services to the individual needs of Investors. Investment decisions and advice are subject to the investment objectives and guidelines set forth in the relevant Client Agreement. The Advisory Affiliates have entered into side letter agreements with certain Investors. Side letters are negotiated prior to investment and establish rights that supplement or alter the terms of the applicable Client Agreement. Pursuant to such side letters, Advisory Affiliates have granted rights to certain Investors which are not available to other Investors (including without limitation, advisory board representation, transparency rights, and reporting rights). Once invested in an Advisory Client, Investors cannot impose additional investment guidelines, restrictions or other requirements on such Advisory Client. Foresite Capital does not participate in wrap fee programs. As of December 31, 2023, Foresite Capital manages approximately $3.4 billion of Advisory Client assets on a discretionary basis. Foresite Capital does not currently manage any client assets on a non- discretionary basis.