Hot Investor Mandate 2: VC Focuses New Fund on Southeast Life Science Deals

28 Jul

A Venture Capital firm based out of North Carolina recently had a first close on its new fund, 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 $6M to $10M 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. The firm is looking to make 4-6 allocations in the next 6-9 months throughout the United States, however they are focused on companies in the Southeast.

The firm 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 in Wound Care.

In the Medical Technology space, the firm strongly prefers that the company at least has an early prototype of their product and the firm is opportunistic in terms of medical device subsector and is open to all classes of device.  The firm looks for companies in the healthcare IT space to be revenue generating.

The firm often works with spinouts directly from universities, though this is not a requirement as the firm is open to all types of early stage companies.

If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com

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