New Leaf Venture Partners Closes $310 Million Healthcare Fund; Focus on Clinical-Stage Biopharmaceutical Products, Early-Stage Medical Devices, and Molecular Diagnostics
NEW YORK & MENLO PARK, Calif. Aug. 9, 2005 — New Leaf Venture Partners (NLV Partners) announced today that the company has closed a $310 million venture capital fund dedicated to healthcare technologies. The company will invest primarily in firms focused on clinical-stage biopharmaceutical products, early-stage medical devices, and molecular diagnostics.
NLV Partners initiated operations in July 2005 under the former managers of Sprout Group’s Healthcare Technology venture team. NLV Partners’ team includes: Managing Directors Philippe Chambon, M.D., Ph.D., Andrew Firlik, M.D., Ron Hunt and James Niedel, M.D., Ph.D., in the company’s New York office; Managing Directors Jeani Delagardelle, Kathy LaPorte and Vijay Lathi in the Menlo Park office; and Vice President Hao Zhou in Menlo Park.
In a statement, Philippe Chambon and Kathy LaPorte commented, “We are very excited by the closing of our first fund and are grateful for the strong support from an outstanding group of limited partners. With the formation of NLV Partners, we have now created one of the very few venture firms 100 percent dedicated to the life sciences, which will allow us to play a significant role in supporting innovative companies in this sector. We plan to continue the successful healthcare technology investment strategy that we followed at Sprout Group and look forward to an active investment program in the months to come.”
About NLV Partners
NLV Partners is a life science-dedicated venture capital firm with offices in Menlo Park and New York. Founded by the former members of Sprout Group’s Healthcare Technology venture team, NLV Partners invests primarily in firms focused on clinical-stage biopharmaceutical products, early-stage medical devices, and molecular diagnostics. In addition, the NLV Partners team will continue to manage the existing $800 million healthcare technology portfolio of Sprout Group.
Burns McClellan, New York
on Behalf of NLV Partners