Companies and startups active in biotech and healthcare usually deal with medicine and pharma. Such companies typically need lots of capital to develop further, for example, for costly studies or complicated drug registrations. Therefore, the firms normally don’t generate any profits in the first years after their founding and are dependent on external investors. Single family offices play an ever-increasing role in providing the required capital to biotech and healthcare firms. Investments in such firms are hugely interesting for family offices because of the high profit margins that are typical in the healthcare industry. In the following article we want to introduce you five family offices, which are part of our top notch database of single family offices based in the U.S., that invest in biotech and healthcare.
Featured: Our unique Life Science Single Family Office Investor Database
This article directly stems from the research process for our biotech single family office database. Our list of global biotech focused single family offices includes the most important family investment vehicles that invest in the development of new drugs, e.g. based on mRNA technology or gene therapy.
#1: Raptor Group, Boston
The single family office of Jim Palotta, one of the most famous people from Boston, invests in many different kinds of industries. Palotta, the former Vice Chairman at Tudor Investment Corporation and owner of the Boston Celtics, made a name for himself as a prosperous investor. Raptor Group, also featured in our list of single family offices in Massachusetts, seeks to make early and seed investments in technology, consumer, sports & media and financial services companies, but one of its main pillars is clearly healthcare & biotech. A recent investment is “Genetesis”. The privately held medical technology company is oriented towards the development of efficient and non-invasive cardiac current density mapping. They developed a tool that non-invasively generates images of the heart’s electrical current distribution and characterizes deep sources of current that are consistently missed by the standard EKG.
#2: Schooner Capital, Boston
Schooner Capital, a typical American single family office, was founded and is led by Vin Ryan. He serves as a director of Iron Mountain, a $5 billion global records management company which he purchased and grew from a single storage site. He also served as a former director at Continental Cablevision and founded National Hydro and Arch Mobile Communications. Schooner Capital focuses on venture capital, growth equity and public securities investments where healthcare and biotech are two of their key industries. Their current portfolio includes “Remedy Plan Therapeutics”. The company develops small molecule therapeutics to halt tumor growth and disrupt the cancer stem cells that cause metastasis. They research non-toxic treatments that target the dangerous embryonic properties of cancer stem cells, which form the basis for cancer growth, spread, and resistance to chemotherapy.
#3: Tarsadia Investments, Newport Beach
Tarsadia Investments is a family office based in Newport Beach, which is also featured in our list of single family offices in California. They currently manage approximately $2 billion in family capital so they are able to invest across multiple stages of maturity and asset classes. Investments typically range from $5 million to $200 million per deal. The current portfolio includes investments in majority and minority stakes in privately-held companies, public equity and debt instruments and early stage venture-backed businesses. Their major target areas include healthcare as well as biotechnology. “Asana Biosciences” is one of the companies that are backed by Tarsadia Investments. Asana Biosciences is a research and development company specializing in the discovery and development of new chemical and biological entities. Its portfolio consists of multiple early-stage drug discovery and development candidates in a variety of therapeutic areas, including oncology, pain and inflammation, among others.
#4: Baruch Future Ventures, San Francisco
The single family office of Tom Baruch was founded in 2012. Tom is a well-known American business man and venture capitalist. For example, he was one of the founding partners of the famous venture capital funds CEMEA Capital and Formation 8. Baruch Future Ventures focuses on early and seed investments in companies that are active in resource scarce and climate sensitive markets. Target areas are clean energy, healthcare, food, agriculture and air quality but healthcare and biotech investments make up the largest part of Baruch Future Ventures’ current portfolio. One example is “BiomX”, a microbiome company developing customized phage therapies designed to target and destroy harmful bacteria in chronic diseases such as inflammatory bowel disease and colorectal cancer, as well as bacteria that affect the appearance of the skin.
#5: Pritzker Vlock Family Office, New Haven
The Pritzker Vlock Family Office (PVFO) is one of many single family offices that are connected to the Pritzker Family, one of the richest families in America, being near the top of Forbes magazine’s “America’s Richest Families” list since the magazine began listings in 1982. The family’s fortune arose in the 20th century, particularly through the founding and expansion of the Hyatt hotel corporation by Jay Pritzker. PVFO manages a diverse and international asset base that includes emerging biotech and medical device companies, consumer technology products, real estate and more. An exemplary biotech investment is “Gelesis”. The clinical stage biotechnology company develops first-in-class therapeutics to safely treat obese, overweight, and diabetic patients. The main product is Gelesis100, an orally- administered smart pill which contains thousands of hydrogel particles approximately the size of a grain of salt that expand to 100 times their dry weight. The pill is designed to act mechanically in the stomach and small intestine to increase satiety and decrease hunger, resulting in reduced caloric intake and weight loss.
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