New Ventures Funds, a healthcare venture platform targeting companies that accelerate the industry, has raised the firm’s third fund, New Ventures III.
The Fund raised a total of USD90 million and closed on 15 June, 2019 and has made twelve investments so far. New Ventures III follows in the footsteps of the two previous funds, New Ventures I and New Ventures Select with an investment strategy of focusing on investments in a diversified portfolio of early to mid-stage therapeutics, digital medicine opportunities, and pharmaceutical royalties.
Mark Finn, General Partner, says: “The success of our third fund’s fundraising efforts validates the strategy employed by our team. We continue to invest in novel therapeutics and digital medicine products that improve the quality of patient care and benefit healthcare through addressing unmet needs. We greatly appreciate the confidence of our long-time limited partners as well as new institutional investors and family offices.”
The management team of the Fund consists of Mark Finn, Rory Riggs, Jonathan Finn, Dr Richard Warburg, and Harry Glorikian. The partners have unique backgrounds as founders, operators, and investors in the healthcare and digital medicine space, which has allowed them to identify unique investment opportunities in early to mid-stage therapeutics, digital medicine products, and drug royalties.
Glorikian says: “The diversity of knowledge, depth of experience and network of each team member is a true differentiator of our investment team. We each provide expertise at each stage of the investment process, from developing IP, structuring an investment, managing portfolio companies, and developing successful exit strategies that seek to maximise shareholder value.”
The hands-on expertise of the New Ventures team allows us to assist our portfolio companies at each stage of development. The team has had the pleasure of working together for years, developing, growing and managing profitable sales of multiple companies in therapeutics, precision medicine, diagnostics, and other high-impact technology companies.
General Partner, Jonathan Finn, commenting on the direction of the Fund, says: “We continue to see an immense amount of opportunity in the healthcare and digital medicine space and continue to add shareholder value by investing in novel products and services that are truly disruptive and improve the human condition.”
