Hot Life Science Investor Mandate 2: Opportunistic VC Seeks Early Stage Companies

16 Oct

A venture capital firm founded in 2000 and based out in the Eastern US manages four funds with a combined $250 million in assets under management. The firm’s most recent fund closed at over $100 million, with up to 20% of the committed capital going to seed and early stage companies and projects.

The firm typically invests between $2 and $4 million initially, and up to $10 million over the lifetime of the investment. Investments are generally in the form of milestone-based equity tranches. However, the firm also has experience in working with convertible notes. They are looking to make 4-6 allocations in the next 6-9 months.

The VC is currently looking for early stage companies in the Therapeutics, Diagnostics, Medical Technology and HealthCare IT spaces. In the Therapeutics space the firm is opportunistic in terms of subsector but is most interested in indications of Ophthalmology, Cardiovascular, Pulmonary, Anti-Infectives, Metabolic Disorders, Renal Diseases, Oncology, Immunology, Dermatology, and Orphan Diseases.

For companies developing therapeutics, the firm is looking for companies primarily with a lead product in preclinical trials, although they will consider companies with products having recently entered Phase I. The firm also has generally stayed away from – and is not currently seeking – companies working with Regenerative Medicine and Wound Care. In the Medical Technology space, the firm strongly prefers that the company have at least have an early prototype of their product and the firm is opportunistic in terms of device subsector.

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