The corporate venture capital arm of a corporation has $6B in AUM and provides a variety of venture financing solutions in a mix of debt and equity structures to growth-stage companies in the technology and life science space. Initial investments typically range from $5M-$20M, with additional capital reserved for follow-on investments. The firm does not make strategic investments, but rather is focused on returns and makes all investments directly from its balance sheet; therefore, there are no time constraints for returns. The firm aims to do between $150M-$200M in deals per year. Board seats are not typically required; however, board observation rights may be required depending on the deal.
In the life science space, the firm is most interested in healthcare IT and medical devices (diagnostic or therapeutic). The firm will consider earlier-stage health IT companies without any revenue, but medical device companies must have FDA approval and would be preferred if they were generating some revenue. The firm is most interested in health IT companies with a B2B aspect, whether that be clinical or business systems, and will look at consumer-facing healthcare IT technologies on a secondary basis.
For the most part, the firm invests in North American companies, but will consider Asian companies secondarily. The firm requires that management teams have a quality track record that demonstrates their ability to execute.
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