A venture development organization provides capital, a range of services and network connections to early-stage companies in the life science space and beyond. The firm invests out of several funds, with a combined $60M under management. The firm is mainly focused on early-stage companies (concept, seed or seed+/ early stage) and therefore, typically makes investments ranging $100K-$1M. The firm usually makes about 20 investments per year, with about 25% of these made in life science companies. Convertible notes are preferred for smaller investments in earlier stage companies, with equity investments reserved for larger, more mature deals. The firm only considers companies headquartered in the central Ohio area.
The firm is open to most sectors including therapeutics, medical devices and healthcare IT. The firm is indication agnostic, and evaluates opportunities relative to the markets they are entering. The firm is most interested in products that are in the pre-clinical phase of development, although the firm has invested in some Phase I therapeutic assets and marketed medical devices. The firm has invested in companies developing a range of different products including an advanced healthcare analytics platform, a gene-therapy therapeutic and a cell-culture products platform technology.
Given the nature of the organization, the firm has no management team requirements and will work with entrepreneurs of all experience levels. A board seat is usually only required along with larger investments, and can be filled by a member of the firm’s investment team or one of their partners.
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