Rock Spring Ventures to back Scotland’s life science industry
Will invest in early-stage life science companies developing novel approaches to unmet needs
Venture capital fund Rock Spring Ventures (RSV) has launched a Scotland-based £50m fund focusing on early-stage life science and health technology companies.
The fund, based in Edinburgh, will invest in young life science companies developing novel approaches to unmet needs in the study and treatment of major diseases and technologies to advance better healthcare delivery.
Initial investors include the European Investment Fund (EIF); Scottish Enterprise through the Scottish Investment Bank; Strathclyde Pension Fund; Rock Spring Ventures (RSV-US) and the Universities of Glasgow, Edinburgh and Aberdeen.
Managing partners Sinclair Dunlop and Kyp Sirinakis will lead the sector-specific investment team at RSV-EU. They plan to form syndicates of early-stage investors, including from outside the UK via its sister fund, RSV-US, based in Bethesda, Maryland, and its network of operations in North East Asia.
‘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 Sirinakis.
‘We also believe that what we’re now setting in motion will, in time, play an important part in further developing the commercial potential of early-stage life sciences research across the UK.’