Taiwania Capital leads $55m Series E round in Fractyl Laboratories

Laboratory equipment. Photo: Pixabay

Taiwania Capital Management Corporation has led a $55 million Series E financing round in Fractyl Laboratories Inc., a life sciences company focused on tackling metabolic diseases, according to an announcement.

The round was joined by existing investors including Bessemer Venture Partners, General Catalyst, Domain Associates, Mithril Capital Management, Emergent Medical Partners, True Ventures, and GV. New backers Catalio Capital Management, CDIB Venture Capital Corp., and YJ Capital also participated in the financing.

Taiwania managing partner Michael Huang will join Fractyl’s board in conjunction with the funding round.

Fractyl is developing Revita DMR, a same-day, minimally invasive procedure to treat highly prevalent metabolic diseases resulting from insulin resistance, including type 2 diabetes and nonalcoholic fatty liver disease.

The company said that the proceeds from the financing will be used to support the clinical trial of Revita DMR for the treatment of patients with type 2 diabetes.

Established in 2017, Taiwania Capital Management Corporation operates as a venture capital firm. It currently manages two funds including an NT$4.65 billion IoT fund (Fund I) and an NT$5.9 billion biotech fund (Fund II).

The funds invest in firms at home and abroad that have new technologies, and have successfully facilitated cooperation between Taiwan and overseas partners in cutting-edge research.

In March, Taiwania Capital Management co-led a $30 million Series A round in US-based Regenacy Pharmaceuticals along with US private investment firm Cobro Ventures.

In a recent announcement, the VC firm said that it plans to launch two new funds by the end of this year to support accelerated development of early-stage startups and makers of innovative medical devices. One of these funds will focus on early-stage IoT startups, while the other will focus on innovative biotech and medical device companies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.