NewVale Capital, a Boulder-based growth equity firm focused on investments in the services architecture underpinning the life science industry, announced the final closing of its inaugural fund. This oversubscribed $167 million fund will accelerate the growth of proven pharmaceutical services companies that are essential in bringing medicines to patients.
The firm invests in services, software, and technologies within the life sciences industry, which have a proven return on investment for pharmaceutical customers, helping to accelerate timelines, reduce costs, and improve quality. With nearly $200 million total under management, the firm makes investments of between $10 and $50 million in growth companies across the continuum of the pharmaceutical value chain, including discovery, clinical, manufacturing, regulatory, and commercialization. NewVale’s team comprises veteran life science investors, company builders, and pharmaceutical executives with decades of experience in the global pharmaceutical industry.
The fund has completed three initial investments:
— Aizon – NewVale led a $20 million growth financing for expanding the availability of Aizon’s machine learning software, which cost-effectively increased productivity and reduce batch errors in the pharmaceutical manufacturing process.
— Argonaut Manufacturing Services – NewVale led a $45 million growth financing for meeting the need for high-quality clinical and commercial sterile fill/finish capabilities of small- and medium-sized biopharmaceutical companies.
— Beaconcure – NewVale led a $14 million growth financing for providing the pharmaceutical and contract research industry with a novel software platform that reduces the time and cost of the biostatistical validation process across all clinical trials.
In under nine months, NewVale also surpassed its target raise and initial hard cap with capital commitments from institutional limited partners across university endowments, foundations, insurance companies, fund of funds and family offices, alongside recognized pharmaceutical executives and investors.
Strathmore Group served as exclusive placement agent for NewVale and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., provided legal counsel in connection with the fundraising.
KEY QUOTES:
“While the science behind novel therapeutics has never been more promising, the pharmaceutical industry is undergoing a major evolutionary shift. To contend with its own rapid growth and formidable external pressures, the industry has been remodeling itself in ways that will make it sustainable for the decades ahead. In its evolution, biopharma has quietly become reliant on a vast and complex system of outsourced services that few have focused on, a system that now draws more than half of all dollars invested in biopharma.”
“We are thrilled to launch an independent growth equity fund committed exclusively to the services companies that help deliver much-needed therapies to patients. With our capacity to provide ample capital, our heritage as company builders and our expansive networks across the pharmaceutical industry, we’ve designed NewVale to be a valued partner for management teams looking to accelerate their growth.”
- Todd Holmes, Founder and Managing Partner of NewVale
