Hot Mandates: US-based Venture Capital

22 Feb

A venture capital firm founded in 2002 and has offices in San Francisco, CA, and Boston, MA. The firm is investing from its sixth fund, which closed at $350 million in 2018. The firm invests in seed and Series A rounds and has a strong preference for being the first institutional investor in a company. The firm typically reserves a total of $25 million to invest over the life of a portfolio company. The firm invests in the USA and Canada, and typically makes about 5 allocations per year.

The firm is primarily focused on therapeutics, and generally will no longer invest in technologies with a medical device regulatory pathway. The firm prefers to invest in platform technologies that have attained significant preclinical proof of concept data, preferably with published data and evidence that shows reproduction of theory. The firm prefers that platform technologies have potential to bring therapeutics to market in the short-term. The firm will consider therapeutic opportunities in any indication space and is agnostic to modality (i.e. small molecule, large molecule, cell/gene therapy). Additionally, the firm invests in biotech research tools, such as sequencing technologies and discovery platforms.

The firm prefers to work with strong scientific teams. The firm invests only in the USA and Canada and does not consider international opportunities unless the company has a significant US presence. The firm generally does not invest in companies that have previously received investments from an institutional investment firm.

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