CPE News (9.8.2022) – Sectoral Asset Management has held a final closing of its fifth late-stage venture capital fund, New Emerging Medical Opportunities (NEMO) V with at over US $150 million in total capital commitments, from institutional investors and family offices across Europe, Asia, the Middle East, and Canada.
The LALUX Group (LA Luxembourgeoise) is the anchor investor of the fund.
NEMO V will focus on biotechnology and medical technology deals in North America and Europe. The fund targets a 2-3x net return on investment inside of 2 to 4 years.
Led by investment partners Dr. Stefan Larson, Ph.D., Marc-André Marcotte, and Michael Sjöström, NEMO V is targeting 15 investments with commitments of US $10-15 million per company. The fund has made investments in Garuda Therapeutics, Magnolia Medical Technologies, Apnimed, Mineralys Therapeutics, and Iantrek.
photo credit: Sectoral Asset Management
News Release
Sectoral Asset Management Announces Final Closing of its Fifth Late-Stage Venture Capital Fund
–Fund to focus on biotech and medtech deals in North America and Europe–
Montreal, Canada, September 8, 2022 – Sectoral Asset Management announced today the final closing of its fifth late-stage venture capital fund, New Emerging Medical Opportunities (NEMO) V. The fund closed at over USD 150 million, with capital commitments from institutional investors and family offices across Europe, Asia, the Middle East, and Canada.
“We are pleased to partner with NEMO V’s anchor investor, the LALUX Group (LA Luxembourgeoise), the leading insurance group in Luxembourg,” said Jérôme Pfund, CFA, Co-Founder and Partner at Sectoral. “We are also thankful to the existing NEMO investors, the vast majority of whom have again committed capital to this new fund.”
Like previous NEMO funds, NEMO V will focus on biotechnology and medical technology deals in North America and Europe. The fund targets a 2-3x net return on investment inside of 2 to 4 years, Pfund added.
NEMO V is led by investment partners Stefan Larson, Ph.D., Marc-André Marcotte, CFA, and Michael Sjöström, CFA. The Sectoral team is targeting 15 investments with commitments of USD 10-15 million per company, with deals in 5 portfolio companies already announced: Garuda Therapeutics, Magnolia Medical Technologies, Apnimed, Mineralys Therapeutics, and Iantrek.
The fund builds on Sectoral’s long track record of leading venture investments and generating successful exits in innovative late-stage healthcare companies. Today, record levels of private capital deployed to healthcare startups and the continued willingness of strategics to acquire innovative technologies and products combine with a recent return to investor-friendly valuations to create an unprecedented environment for the deployment of late-stage venture funding.
Since 2008, the NEMO family of funds has targeted clinical-stage companies with novel products that offer substantial therapeutic gain, said Michael Sjöström, CFA, Co-founder and Partner at Sectoral.
“These companies have the highest potential for risk-adjusted financial return and real-world patient impact”, he added. “Our internal analytical impact reporting model demonstrates that improved patient outcomes drive meaningful value creation for all stakeholders”.
Sectoral Asset Management For further information, please contact:
Michael Sjöström, CFA Co-founder and Partner michael@sectoral.com
About Sectoral Asset Management:
Co-founded in 2000 by Jérôme Pfund, CFA, and Michael Sjöström, CFA, Sectoral Asset Management Inc. is one of the industry’s leaders, focusing exclusively on managing global healthcare portfolios. The fully employee-owned company has offices in Montreal, Geneva, and Hong Kong. Clients include global sovereign-wealth funds, private banks, and family offices. More information can be found at www.sectoral.com.
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