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LEERINK Capital Partners and Revelation Partners form strategic partnership and close USD192m healthcare fund

LEERINK Capital Partners and Revelation Partners have created an investment platform that provides capital and liquidity to healthcare investors, companies, founders and funds, called LEERINK Revelation Partners. 

In addition, the platform has closed its first fund, LEERINK Revelation Healthcare Fund I, with USD192 million of commitments, surpassing its initial target of USD175 million.

LEERINK Revelation Partners combines the experience and resources of LEERINK’s leading healthcare investment bank with Revelation Partners’ established leadership in secondary transactions across healthcare. The investing team is based in San Francisco and invests broadly across healthcare sectors, focusing on commercial companies that have proven business models or companies with novel technologies that have clear clinical and regulatory pathways. Specifically, the firm invests in medical devices, diagnostics, biopharmaceuticals, healthcare IT and healthcare services. Recent investments of the Fund include: Crescendo Bioscience, PneumRX, Inc., Corventis and DiscoveRx Corporation.

The investment team, led by Scott Halsted, Dr. Zack Scott, and Michael Boggs has been executing this strategy, often referred to as direct secondary investing, for the past seven years. Prior to the partnership with LEERINK, the investment team has invested over $230 million in healthcare secondary transactions.

Jeff Leerink, Chairman and CEO of LEERINK Partners, sasaysid, "We are very excited by this partnership and look forward to working with Scott and his team. Our unique position and institutional knowledge in the healthcare marketplace will help to strengthen what is already a very impressive team and investment platform, and we are all equally committed to its success.”

James Nahirny, Managing Partner of LEERINK Capital Partners, says: “We see this as yet another way in which LEERINK can support companies and investors who are shaping the future of healthcare. Revelation Partners’ substantial experience and proven track record in direct secondary investing in late-stage, private healthcare companies makes them an ideal partner for LEERINK, as we are uniquely suited to add value to this highly regarded investment team.”

“We believe our investment strategy capitalises on an attractive market opportunity, given the macro trends affecting traditional healthcare investors and declining number of active venture capital firms,” says Halsted. “There are many exciting healthcare companies that have taken more time and more money than originally expected to achieve scale and, as a result, there is often misalignment in the investor syndicate relative to the ability or desire to fund the company for an optimal exit. By providing liquidity and financing options to these existing investors, we can help to re-align the investors and maximise the company’s value.

“Working with LEERINK provides a substantial competitive advantage, and we look forward to leveraging their distinct expertise, broad industry relationships and unrivalled position in healthcare to deliver value to our investors and portfolio companies alike.”

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