Tikehau Capital and SPRIM Ventures have raised $50 million in its initial closing for their first venture capital fund TKS1, which will focus on early stage investments in med-tech and life science companies.
Administered out of Singapore and with investment sizes ranging between $500,000 and $5million, TKS1 provides early stage capital to mainly companies offering solutions that move science forward in the health sector.
A company spokesperson told Citywire Asia that there will be two additional closings that are accessible only to qualified investors.
Currently, investors for TKS1 comprise of a mix of family offices, high-net-worth individuals and some institutional investors across Asia and Europe, the spokesperson said.
TKS1 has already seeded five companies, in which four – ObvioHealth, Fibronostics, Travecta Therapeutics and Babynostics – are based in Singapore and one – Evid Science – is based in the US, according to the spokesperson.
It is in the process of evaluating two other investments, the company spokesperson added, without giving further details.
Tikehau Capital’s asset management subsidiary Tikehau Investment Management Asia is the asset manager for the new VC fund, while SPRIM Venture is the exclusive advisor, the company spokesperson added.
Bruno de Pampelonne, chairman at Tikehau IM, said Tikehau, together with its partner SPRIM, has chosen to base its latest VC investment platform focusing on med-tech and life science out of Singapore due to its reputation as a global innovation hub.
Singapore’s reputation as a global innovation hub stems from its strong government support, its robust research and development ecosystem with a wealth of research institutions, multinational med-tech and life science companies, as well as a flourishing start-up scene, he said.
De Pampelonne said Tikehau hopes to leverage TKS1 as a springboard to access some of the most exciting healthcare ventures in the market today that also provide favourable and sustainable returns for our investors.
Meanwhile, Dr. Michael Shleifer, co-founder at SPRIM, said the backing of Tikehau Capital, combined with its global footprint, network and expertise in healthcare, will allow TKS1 to deliver innovative solutions for patients, physicians and payers as well as position its companies as key contributors in the transformation of this industry.
“We are witnessing an unprecedented shift in healthcare, rapidly integrating treatments, fast-growing early diagnostics, as well as game-changing medical technologies fueled by new artificial intelligence capabilities,” he said.
As of end-December, Tikehau Capital manages €13.8billion in assets. The group invests in various asset classes, which include private debt, real-estate, private equity and liquid strategies.
Tikehau Capital also invests through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors.
SPRIM Ventures is the Singapore-based venture arm of SPRIM, a global innovation firm focused on healthcare.