Rock Spring Ventures has launched a unique £50m venture capital fund focusing on early-stage life science and health technology companies.
Based in Scotland, the new fund has secured early commitments for more than half of its £50m target from an unprecedented syndicate of international investors. Initial investors include the European Investment Fund (EIF); Scottish Enterprise through the Scottish Investment Bank; Strathclyde Pension Fund; Rock Spring Ventures LP (RSV-US) and the Universities of Glasgow, Edinburgh and Aberdeen. The fund aims to provide venture capital to the most promising life science technologies, including those being spun-out from leading universities.
Rock Spring Ventures EU LP (RSV-EU) is led by a sector-specific investment team with significant company-building experience. Managing partners Sinclair Dunlop and (Ms) Kyp Sirinakis have managed three US-based venture funds during the last fifteen years. Dunlop recently returned from the US to his native Scotland to launch the new fund which aims to support ‘under-ventured’ markets in Scotland and other parts of the UK.
“We are particularly excited to be partnering with a unique investor group that includes three of Scotland’s world-class universities to provide the capital needed to realise the full potential of their spin-out companies”, said Dunlop. The incredible strength of the research base across the UK, and in Scotland in particular, makes it a natural location for us.
“We believe early-stage life science and health technology companies in Scotland and the rest of the UK offer the potential for strong financial returns to our investors,” said Kyp Sirinakis, co-manager of the Fund.