Hot Life Science Investor Mandate 2: VC Fund with lots of Dry Powder Seeks Firms in the Genomics Space – February 12, 2013

11 Feb

A venture capital fund with offices in the US and abroad is currently deploying capital from its third fund, which raised around $400 million. The firm was founded in 2001 and currently has nearly $1 billion in assets under management. The firm, which is currently looking for new opportunities in the life science space, has no set time frame to make an allocation, but has a lot of dry powder on hand, and would invest in a company within the next two quarters if a compelling opportunity was identified. The group invests up to $10 million in equity per firm.

The firm is currently most interested in the biotech R&D services and medtech space. Within the R&D services space, the firm is interested in genomics and diagnostic instrumentation. They also invest in companies within the medtech space, and will look at the full spectrum in that space. The firm will not consider any companies within the biotech therapeutics space due to the long time to market for these products.

Currently, the firm is only looking for early-stage pre-revenue companies. With that being said, the firm will not consider medical device companies that currently have a product on the market. The firm provides seed stage and growth capital, and typically takes a minority position (less than 50%) in their portfolio companies, but does usually take a board seat.

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