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The New Leaf Ventures (NLV) team has been built over a decade,
originating within Sprout Group, the venture capital affiliate
of Credit Suisse First Boston. Sprout Group was formed in 1969
and has historically been one of the leading venture capital
firms in the country. The team started to invest in healthcare
technology in 1993 and since then, has become a leading venture
investor in that sector. In 2005, the entire healthcare
technology team of Sprout spun out into NLV. This team continues
to manage the healthcare technology portfolio of the Sprout
funds in 2005, the team closed on its first
directly-managed fund, New Leaf Ventures I, L.P., a $310 million
healthcare technology-dedicated fund. In 2007, the team closed
on its second fund, New Leaf Ventures II, L.P., a fund also
dedicated to healthcare technology, which was capitalized with
$450 million of limited partner commitments.
Spanning five different Sprout funds, the NLV team has invested
over $1 billion in healthcare technology companies,
representing a range of opportunities, including investments in
ten public companies and 37 companies that were startups or
where we were amonth the first venture investors. The NLV team has helped
to establish or nurture such companies as Adeza Biomedical, Allos Therapeutics,
Aradigm Corporation, Aspreva Pharmaceuticals, Cephalon, Cerexa, CombiChem, Epicor Medical,
ePocrates, Ilypsa, NxStage Medical, Pathology Partners, Sapient Health
Networks (WebMD) and Sequana Therapeutics. The team also led
recapitalizations of established companies such as ISTA
Pharmaceuticals and Sirna Therapeutics.
Both
New Leaf Ventures I and New Leaf Ventures II are capitalized primarily by commitments from
large corporate and public sector pension funds, endowments, and
other private investors -- many of whom have invested with the NLV team through investments in previous Sprout funds.
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