- Colorcon, a leader in the development, supply, and technical support of specialty products for the pharmaceutical industry, announced it established Colorcon Ventures with $50 million ready to deploy.
Colorcon — a leader in the development, supply, and technical support of specialty products for the pharmaceutical industry — announced the establishment of Colorcon Ventures to invest in promising companies in the pharmaceutical industry.
Colorcon Ventures is set up as a $50 million venture fund focused on startups that strategically relevant to the core Colorcon business. And the fund will target investments in transformational solutions across manufacturing, supply chain, and delivery of pharmaceutical products and services. But the fund is not investing in companies developing active ingredients or molecules.
Colorcon’s business focus is on advanced coating systems, modified release technologies, and functional excipients for use in pharmaceutical immediate and modified release dosage forms. And Colorcon is known as being a world leader in the development, supply, and technical support of specialty ingredients, formulated film coating systems, modified release technologies, and functional excipients for the pharmaceutical industry. Currently, Colorcon has 11 manufacturing facilities, 21 technical service laboratories around the world, and over 1,200 employees exclusively dedicated to its customer base.
This fund is going to be stage-agnostic with an emphasis on early and mid-stage companies that demonstrate product market fit and revenue growth. And Colorcon Ventures will invest in startups where Colorcon can add value in the form of subject matter expertise or commercial relationships and leverage Colorcon’s global reach, relationships, within the pharmaceutical industry, and agile research and development approach.
“We are excited to launch this venture fund to support the growth of startup companies in the pharmaceutical and healthcare industries,” said Martti Hedman, the CEO of Colorcon. “Colorcon has a rich history of innovation and we believe this fund will allow us to continue to serve our customers by partnering with startups.”
Touchdown Ventures — a firm that specializes in corporate venture capital — will help manage the Colorcon Ventures fund. Plus Touchdown will work closely with senior executives of Colorcon in all aspects of operating the fund.
“The promise of corporate venture capital is to bring more than just money to the table. A successful corporate investor can generate meaningful value by facilitating commercial relationships with its portfolio companies. We believe that Colorcon Ventures, through close association to the senior executive and business units of Colorcon, is well poised to accomplish this goal,” added David Horowitz, the CEO of Touchdown.
