Mirae Asset Capital Life Science – a venture capital firm investing in private biotechnology companies – officially emerged from stealth after announcing its inaugural $50 million fund: Mirae Asset Capital Life Science Inception I, LP. The firm is also supported by a diverse global investor base comprised of Limited Partners within the Mirae Asset Financial Group.
The firm plans on investing the fund in private biotechnology companies from seed to series C with a primary focus on therapeutics (modality agnostic) but will remain opportunistic to diagnostics and AI/ML tools for drug discovery and protein engineering. The core sectors of interest include oncology, immunology, cardiovascular/metabolic disease, CNS/ophthalmology, and genetic disease.
This group can lead or follow deals, intends to support its portfolio companies through exit, and seeks to be an active investor at the board level. First check size can vary but will not exceed $10 million except with co-investment with other Mirae Asset affiliates. The firm has investment team members in Boston and San Francisco while receiving legal and administrative support from its New York office.
Mirae Asset Capital Life Science is the sole U.S. affiliate investing in life science within the Mirae Asset Financial Group. And over the past decade, Mirae Asset has invested in more than 100 prominent biotech companies worldwide, including BioNTech and Vividion, and sees this as a golden opportunity to build its presence in the U.S.
Sidley acted as counsel to Mirae Asset Capital Life Science for fund formation.
KEY QUOTES:
“We are honored to have the full support of the Chairman and Mirae Asset in building and growing the U.S. affiliate focused on life science and remain committed to finding the best companies that can bring therapies to patients who need them most. As a testament to this, we are proud to lead a $75mn Series C investment in a company that has pioneered the development of novel small molecule precision therapies for patients with cancer.” Dr. Krishnan will join the Board of the company following the investment which will be announced in the coming weeks.”
– Managing Director Naveen M. Krishnan, MD, MPhil
