The corporate venture capital arm of an integrated health care consortium based in the United States manages ~ $410 million in assets and is making the investments out of a ~$150 million dollar fund. The firm can invest as little as $5 million but tends to allocate $7-$10 million initially, and $10-$15 million over the lifetime of an investment. The firm only invests in preferred equity rounds, is comfortable leading life sciences deals, particularly in healthcare IT. The firm only invests in US-based and incorporated companies. The firm is involved in approximately 4-5 new investments each year.
The firm is currently looking for companies in healthcare IT, healthcare services, diagnostics, medical devices, and drug delivery. Companies that are able to benefit the firm’s existing healthcare members are of particular interest. The firm is indication agnostic, however, and is not interested in investing into companies working with novel compounds or therapeutics. The firm is looking for mid to later stage companies for investment.
The firm looks to invest in companies that have already received institutional funding from highly qualified investors where the investor syndicate has majority stake in the company. The firm will consider companies that are both pre and post revenue, but is primarily interested in companies with early (single digit millions) commercial traction. The firm started making investments out of its fourth fund earlier this year.
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