- Petrichor Healthcare Capital Management, a private equity firm that is known for making structure investments in the healthcare sector, announced the final close of Petrichor Opportunities Fund I, LP with $410 million in capital commitments
Petrichor Healthcare Capital Management, a private equity firm that is known for making structure investments in the healthcare sector, announced the final close of Petrichor Opportunities Fund I, LP — which was oversubscribed with $410 million in capital commitments.
Launched by managing partner Tadd Wessel, Petrichor has a strong track record of identifying and supporting world-class management teams and their companies in the life sciences and healthcare sectors. And to date, Petrichor has invested in 5 companies including LumiraDx, Cryoport, CorneaGen, Persivia, and ClearPoint Neuro.
Petrichor is known for investing in private and public companies that are seeking growth capital. And investment sizes range from $10 million to $50 million with the ability to commit larger amounts through limited partner co-investments. And Petrichor hired Moelis & Company’s Private Funds Advisory Group for serving as a placement agent for the fund.
KEY QUOTES:
“After reviewing hundreds of potential partners, Petrichor was chosen as the inaugural investment from Archean Capital Partners.”
— Rob Lazaroff, a Partner at Archean Capital Partners, a joint venture between Veritable, L.P. and Moelis Asset Management LP
“We are delighted to be Petrichor’s anchor investor and are impressed with the quality of the limited partners participating in the fund.”
— Chris Keller, a partner at Archean
“As a spin-out, Petrichor was an ideal partner for Moelis and Archean, which were fundamental to the success we’ve had with the fundraise. We could not be more excited about the team we have built. Patrick Lally, Michael Beecham, and I previously worked together, and this high level of continuity has given us and our partners considerable confidence in our strategy.”
“We appreciate the trust of our limited partners and their support of our distinctive investment style. We believe this is the most exciting time to be investing in life sciences and healthcare and have thoughtfully assembled a team to support leading companies in these sectors.”
— Tadd Wessel
“It has been an absolute pleasure to work with the Petrichor team. Their experience and guidance in the board room have demonstrated incredible value and I look forward to building on the success we have established together thus far.”
— Sir Bruce Keogh, a member of Petrichor’s Advisory Board, LumiraDx’s Board of Directors, and former Medical Director of National Health Service (NHS) England
“The Petrichor team has built something special. Petrichor is a premier healthcare-dedicated investment firm who has been a key partner in our success. I could not be more excited for them and their future.”
— Jerrell Shelton, CEO of Cryoport
