Sofinnova Ventures, a firm that specializes in biotech and software investing, has closed a $500 million fund. This is the ninth fund for the firm, since it was founded in 1974.

The firm has invested in 162 startups, 53 in the biotechnology sector and 28 in computer software, according to Thomson Reuters data. Sofinnova also invests in companies in the medical, Internet and communications fields.

Sofinnova has had success with exits; 38 of its investments have gone public and 59 have resulted in acquisitions or mergers. Last month its migraine treatment investment, Labrys, was sold to Teva (TEVA) in a deal worth up to $825 million.

Sofinnova’s LP investors include JP Morgan Investment Management (JPM), California State Teachers Retirement System and Pennsylvania State Employee’s Retirement System.

The firm often co-invests with Alta Partners, Alta Communications, Burr Egan Deleage, Domain Associates and New Enterprise Associates.

Sofinnova is headquartered in Menlo Park, Calif., and also has offices in La Jolla, Calif., Tokyo, and Dublin, Ireland. The majority of its investments have been in California, where it has funded 99 startups.

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