Telegraph Hill Partners, a venture capital and growth equity firm dedicated exclusively to life science and healthcare investing, said it closed a new $310 million fund, its largest since it was formed in 2001.

The San Francisco-based firm said the new THP III fund will target innovative companies on the verge of expansion. It will invest in companies with advanced technologies that have already demonstrated organic revenue growth. Areas of focus include life science tools, reagents, specialty chemistries, medical technologies, medical devices, healthcare information technologies, healthcare services, agriculture, and animal health.

The new fund will invest in 10 to 12 U.S. companies. THP’s previous investments include Althea Technologies (acquired by Ajinomoto), Ambion, (acquired by Applied Biosystems Group), Dharmacon (acquired by ThermoFisher), NEXUS Biosystems (acquired by Brooks Automation), LDR, and Vidacare.

A total of 88 venture funds raised a combined $7.2 billion through the first half of 2013, according to a Thomson Reuters/National Venture Capital Association survey. Life sciences investment funds announced in 2013 include Third Rock Ventures’ $516 million fund announced in March and Atlas Venture’s $265 million fund, closed in May.