Hot Investor Mandate 4: Cross-Border Firm Raises New Fund For Early Stage Biotech and Medtech Deals

9 Jun

A firm with offices in both China and California is currently investing from two funds; a large fund closed in 2015 that focuses on later stage assets and a new $100 million fund closed in 2016 that will target early stage life science opportunities. The firm invests exclusively in the life science sector, and invests globally.  For early stage companies the firm focuses on the USA, but is also interested in opportunities in Europe, Canada and Asia.  The firm makes both venture and growth-equity stage investments, and its allocations are therefore highly varied. From the 2015 fund, investments typically range from $10-30m, though larger investments are of interest as well; the 2016 fund makes investments of typically $2-5 million, generally in financing rounds of $10 million or less. The firm is particularly interested in working with companies that are open to or actively interested in seeking partnerships or opportunities in China.

The firm invests in therapeutics, medical devices, diagnostics, healthcare services, and clinically-oriented healthcare IT, and will consider investing in any indication area or technology subsector; however, orphan indications, dermatology/aesthetics, oncology, and blood diseases are of particular interest in the biopharma space; general surgery, neurovascular, cardiovascular, minimally invasive technologies, women’s health, respiratory care, novel diagnostics and orthopedics are of particular interest in the device space. The 2016 fund focuses on early stage opportunities; from the 2015 fund, the firm in most cases makes investments in products that are in Phase II or Phase III, but earlier investments may be considered for highly innovative products or products that can demonstrate strong efficacy signals at an earlier stage (such as anti-infectives). For devices and diagnostics, the firm looks for products at any stage.

The firm is flexible regarding management teams, and works with both serial entrepreneurs and entrepreneurs who lack industry experience. In addition to investing in private companies, the firm is able to invest in public companies by means of PIPEs or public market placements. The firm is interested in investing in companies with products that can demonstrate cost-effectiveness.

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