Jan 23, 2025

Partners Investment, Global eye $150 mn biotech fund launch Medical device and IT-based healthcare companies will be off their target list By (CourtesyгҖҖofгҖҖGettyгҖҖImages) South Korean venture capital firm Partners Investment said on Thursday it will raise up to 215.5 billion won ($150 million) in a biotech fund jointly with the US-based GordonMD Global Investments, targeting biopharmaceutical startups in Korea and the US. The fund, once launched, will mark the first biotech fund jointly managed by venture capital companies from the two countries. They aim to close the fundraising within the year. Partners Investment and GordonMD will hunt for novel drug developers with the goal of ultimately listing them on Nasdaq. Medical device and IT-based healthcare companies will be off their target list. They will launch two vehicles, one each in South Korea and the US, while collaborating on deal sourcing, screening, management and exits. "Given the fund size of approximately 200 billion won, we are likely to invest in 10 companies each in South Korea and the US," said Jae An, managing directors of Partners Investment. "We are targeting companies in their Series-B funding round," he added. Established in 2000, Partners Investment has been investing primarily in healthcare and life science sectors. It manages 1.15 trillion won in assets. GordonMD's strong network in the US pharmaceutical market will support Korean drug developers with technology exports, Nasdaq listings and M&As, An said in a press release issued by GordonMD on Tuesday. (CourtesyгҖҖofгҖҖGettyгҖҖImages) GordonMD, founded in 2021, specializes in biopharmaceutical investments in the US, Europe and Japan. It is understood to manage more than 2 trillion won in assets. вҖңCollaborating with Partners (Investment) positions us to pursue and invest in breakthrough therapies not only in the US but also in South Korea, a country increasingly active in the biopharmaceutical space,вҖқ said Craig Cordon, founder and CEO of GordonMD, in the press release. вҖңWe are eager to identify and help nurture innovation and growth among pre-clinical and clinical biopharmaceutical companies,вҖқ added Gordon, a physician. Its major investments include Kyverna Therapeutics which debuted on Nadaq in 2024 and Flare Therapeutics which signed a $1.8-billion licensing deal with Roche, a multinational healthcare company, last year. Write to Woo-Sang Lee at idol@hankyung.com В 2 Min read 1 Min read 2 Min read 1 Min read 1 Min read 2 Min read 4 Min read 2 Min read 4 Min read 2 Min read 3 Min read 2 Min read