SG: Tikehau Capital, SPRIM Ventures’ joint healthcare fund makes first close at $50m

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European investment firm Tikehau Capital and Singapore-based SPRIM Ventures have announced the first close of their joint healthcare-focused venture capital (VC) fund at $50 million.

Administered out of Singapore, the new fund – TKS1 – will focus on early-stage investments in med-tech and life science companies, investing between $500,000 and $5 million in selected startups.

Tikehau Capital, which is listed on Euronext Paris, manages €13.8 billion of assets, and invests in various asset classes, including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Singapore’s state investment firm Temasek had picked up a stake in Tikehau Capital in 2016. SPRIM Ventures is the venture arm of healthcare-focused SPRIM.

“The backing of Tikehau Capital, combined with our global footprint, network and expertise in healthcare will allow TKS1 to deliver innovative solutions for patients, physicians and payers and will also position our companies as key contributors in the transformation of this industry,” said SPRIM co-founder Michael Shleifer.

“Together with our partner SPRIM, 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 – stemming from strong government support, its robust R&D ecosystem with a wealth of research institutions, multinational med-tech and life science companies, as well as a flourishing start-up scene,” said Tikehau IM chairman Bruno de Pampelonne.

TKS1 has already seeded five companies, including ObvioHealth, Fibronostics and Travecta Therapeutics so far.

Healthcare is also one of the focus areas at B Capital, the VC firm founded by Facebook co-founder Eduardo Saverin. The firm, which has an office in Singapore, recently closed its maiden fund at $360 million.

India is also lately seeing notable investments directed at its health-related tech startups. Earlier this month, health-tech startup LiveHealth raised a $1.1-million seed round from venture capital firm Nexus Venture Partners, while Mumbai-based firm Wellthy Therapeutics raised Rs 13.5 crore ($2.1 million) led by Ranjan Pai’s family office Manipal Education & Medical Group (MEMG) family office LLP.

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