Hot Life Science Investor Mandate 1: Large State Fund Seeking Medical Device Suppliers, Engineering for Allocation – January 8, 2013

7 Jan

A fund in the Southern United States, backed by capital from its state government, is currently seeking new investment opportunities in the life sciences space. The fund, which has nearly $500 million under management, was created in order to attract start up companies, as well as the best researchers and scientists, to its home state. More than half of the fund’s investments are in the life sciences space, and since 2005, it has dedicated close to $1 billion to the sector. The fund typically invests in 10-20 companies a year, and their allocation size ranges from $100,000 into the millions of dollars. They are specifically interested in suppliers and engineering in the medical device space, but also has interest in the biotech therapeutics & diagnostics, and biotech R&D services. In terms of biotech therapeutics and diagnostics firms, the fund is fairly opportunistic in terms of subsector and indication. The firm is generally agnostic in terms of a product’s development phase, and will therefore consider pre-revenue firms, as well as firms that have products on the market.

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