Menlo Park-based venture capital investor Longitude Capital said today that it has raised $385M for its second, life sciences fund, Longitude Venture Partners II. The firm said it had targeted the fund at $325M. Longitude invests in growth investments in drug development and medical technology. The firm said its target is mid-stage to commercial-stage companies with "clinically de-risked" assets and three-to-five year liquidity horizons. The new fund's managers are Juliet Tammenoms Bakker, Patrick Enright, Douglas Foster, Marc-Henri Galletti, Gregory Grunberg, and David Hirsch.