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New Ventures Closes $90M Healthcare/Digital Medicine Fund

November 25, 2019 GMT


New Ventures Funds, a unique and innovative 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 $90 million and closed June 15, 2019. The fund has made twelve investments thus 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.

Commenting on the announcement, Mark Finn, General Partner said, “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. Harry Glorikian, General Partner, said, “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 maximize 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, said, “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.”

About New Ventures:

The New Ventures team is a group of co-founders, entrepreneurial operators, and investors with over 100 years of experience whose members have collaborated on various projects together in the healthcare industry. The first fund launched in 2006 and since then the team has repeatedly created, invested in, and exited multiple companies in therapeutics, precision medicine, diagnostics, and various high impact technology verticals. Through New Venture’s deep understanding, the team can translate transformational science into successful business ventures. New Ventures understands science and technology breakthroughs needed to achieve radical change and because of that, the strategy focuses on novel and unique innovations that have breakthrough potential. To see more please visit: www.newventuresfunds.com

This is not an offer to purchase or sell, nor a solicitation of an offer to purchase or sell an interest in The Fund or any other financial instrument. Any offering or solicitation will be made only to qualified prospective investors pursuant to the offering memorandum, and the subscription documents, all of which should be read in their entirety.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005563/en/

CONTACT: William Martin

Investor Relations


Phone: (757) 491-1200



SOURCE: New Ventures Funds

Copyright Business Wire 2019.

PUB: 11/25/2019 10:29 AM/DISC: 11/25/2019 10:29 AM