Tag Archives: assets under management

Hot Life Science Mandate 3: Opportunistic Institutional Alternative Investor Investing Globally

9 Jan

Allocation Information

The life science investment subsidiary of a major investment group has assets under management of $400m and is investing from its second fund, which closed at roughly  $300m in 2012. The firm typically makes initial equity investments of $3-7m with the potential to invest up to $20m over the life of an investment.  While most of the firm’s portfolio companies are US-based the firm will consider opportunities worldwide.

Sectors & Subsectors of Interest

The firm invests opportunistically across the life science sector, and is active in the therapeutic, diagnostic and medical device sectors. The firm prefers to invest in companies with products in the late preclinical stage (typically about 12 months from IND; animal data is required).  In the case of medical devices, companies that have developed a prototype and obtained FIM data are of interest. While not all investments are made at this stage, the firm prefers to build relationships with companies at an early stage. The investor will consider investing in any indication.

Company & Management Team Requirements

The firm invests in both experienced management teams, as well as new entrepreneurs and is open to investing in both privately-held and public companies.

Hot Life Science Investor Mandate 3: European PE Seeks Early-Stage Companies, Has Long Timeline to Exit

5 Dec

A private equity firm that was founded in 2001 and is based in Europe controls €550 million in assets under management across institutional and retail funds. The firm typically makes equity investments ranging from €1 to €20 million over the lifetime of the investment, and is also interested in the in-licensing of early stage assets. The firm has an 8-year period to exit, and plans to make 2-3 investments over the next 6-9 months. The firm invests in companies located throughout Europe with a focus on France.

The PE is currently most interested in companies developing Therapeutics and Medical Devices, and is also considering investments in Diagnostics. In the Therapeutics space the firm is open in terms of indication but has a preference for companies in immunotherapy, vaccines, and biologics subsectors though they are also open to small molecules. In the medical device space, the firm has a strong preference for investing in cardiovascular devices, but considers other opportunities as well. The firm looks to invest in very early stages of company development – generally when lead assets are preclinical and technologies are still in development.

This firm looks to make seed investments and in some cases be involved in the formulation of a company. The firm is not likely to invest in companies that have already received significant institutional financing and looks to lead investments rounds. The firm also participates in spin-offs from larger companies that are looking to sell non-strategic assets.

Hot Life Science Investor Mandate 1: Family Office to Make Several Investments in Coming Months

31 Oct

A family office based in the Eastern US manages 4 funds for a total of approximately $400 million in assets under management. They are currently investing out of their 4th fund, which has $100 million focused exclusively on the life sciences. The office looks to provide up to $5 million of preferred equity capital in the initial investment round, and up to $10 million over the life of the investment. They are very flexible in terms of period to exit, but generally look to exit in around 5 years. They plan to make 2-3 investments over the next 6-9 months and will consider companies globally.

The family office is currently looking for companies developing Therapeutics, Diagnostics and Medical Technology. Within therapeutics, which is their primary focus, companies with an asset in Phase II are currently of most interest. However, they will consider companies with assets as early as 2 years away from human trial data. Within diagnostics, they generally require that the diagnostic be at the commercial stage or have significant positive clinical data. For medical technology they require that the device have some in-human data before being considered for investment. Also, the firm is not interested in medtech companies developing devices that are incrementally improved versions of devices already on the market, groundbreaking technologies and platforms are the firms focus in this area.

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