Shearman And Sterling

News May 12, 2021

Caris Life Sciences $830 Million Growth Equity Round

Shearman & Sterling represented Caris Life Sciences Inc. in an $830 million growth equity round. As a result of the transaction, the post-money valuation of Caris is now $7.83 billion. With this most recent investment, Caris has raised approximately $1.3 billion in external financing since 2018.

This most recent fund-raising round was led by Sixth Street Partners LLC. The transaction marks Sixth Street’s third investment in Caris since 2018. Funds and accounts advised by T. Rowe Price Associates, Inc., Silver Lake, Fidelity Management & Research Company LLC, and Coatue were significant participants in the round. Additional investors included Columbia Threadneedle Investments, Canada Pension Plan Investment Board, Millennium Management, Neuberger Berman Funds, Highland Capital Management, Rock Springs Capital, OrbiMed, ClearBridge Investments, Tudor Investment Corporation, Eaton Vance Equity, Pura Vida Investments and First Light Asset Management.

This round of financing provides Caris with strategic capital for continued commercial expansion and investment. Caris is a leading innovator in molecular science and artificial intelligence (AI) focused on fulfilling the promise of precision medicine, and was founded by current chairman and CEO, David D. Halbert, a passionate advocate of personalized medicine who leads the company with a philosophy that more precise and individualized information will lead to dramatic improvements in the quality of care patients receive. The company serves patients and customers worldwide.

Sixth Street is a leading global investment firm operating a diversified and collaborative investment platform across its growth investing, adjacencies, direct lending, fundamental public strategies, infrastructure, special situations, agriculture, and par liquid credit businesses.

The Team