Tikehau makes $50m first close on Singapore healthcare fund
European asset management firm Tikehau Capital has reached a first close of $50 million on a healthcare-focused early stage investment fund.
The vehicle, TKS1, is a joint venture with Sprim Ventures, the investment arm of global healthcare firm Sprim Group. It will provide early-stage capital to innovative companies based in Singapore and developing scientific advances in the healthcare and therapeutics sectors, along with technologies for prediction, diagnosis, and monitoring.
TKS1 claims to have already committed seed capital to five companies, including ObvioHealth, an app designed to facilitate clinical trials; medical research database developer Evid Science; and pediatric supplement developer Babynostics. The fund will invest $500,000 to $5 million per company, leveraging Tikehau’s investment experience and Sprim’s global healthcare expertise to help portfolio companies scale up to reach the global market.
“We have chosen to base our latest VC investment platform focusing on med-tech and life science out of Singapore due to its reputation as a global innovation hub,” said Bruno de Pampelonne, chairman of Tikehau, in a statement. “We hope to be able to leverage TKS1 as a springboard to access some of the most exciting healthcare ventures in the market today that also provide favorable and sustainable returns for our investors.”
Tikehau invests across various asset classes including private debt, real estate, private equity and liquid strategies, and had EUR13.8 billion ($17 billion) in assets under management as of December 2017. In addition to its five offices in Europe, the firm also operates in Singapore and South Korea.
Sprim has 19 offices worldwide, focused on partnering with developers of innovative healthcare products and services, from nutrition and personal care to internet of things and digital diagnostics tools, to bring them to market. Since its founding in 2001, the firm has backed 450 companies across six continents.
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