Rotterdam, December 15, 2016 – Swanbridge Capital today announced the launch and closing of its first life science fund. The fund, with a size of €6.5 million, will invest in early stage life sciences ventures that require capital to fund their first Proof of Concept experiments.
Focus on Rotterdam
The investors in the fund are all Rotterdam based organizations: Van Herk Investments, the Erasmus University Medical Center, the City of Rotterdam and life science entrepreneur Dharminder Chahal. Furthermore, the Netherlands Enterprise Agency supports Swanbridge Capital with a loan through the SEED Capital arrangement. Due to the nature of the investors the fund will mostly, but not exclusively, focus on the Rotterdam region.
“Rotterdam is very well suited for life sciences start-ups, with a highly active start-up community, high knowledge environment, and excellent housing facilities, like the Rotterdam Science Tower. A new life science fund will give an impulse tot this sector, will connect growth companies to the Rotterdam region and will generate employment. Overall, the participations of Swanbridge Capital will contribute to a better and more efficient healthcare system, creating social benefits,” says Maarten Struijvenberg, Deputy Mayor for Employment and Economy of the City of Rotterdam.
Focus on the Life Sciences
Swanbridge Capital will invest in companies that develop novel technologies in the areas of therapeutics, diagnostics and medical instruments. Aat van Herk on behalf of Van Herk Investments: “By supporting this early stage fund we broaden our life sciences portfolio even further. I have a lot of confidence in the team and I am convinced they will be able to select the most promising technologies.”
By supporting companies through the first Proof of Concept phase, Swanbridge Capital will add value in a very early stage of development, thereby bridging the gap to follow-up funding. “We experience at first hand the difficulties that spin-off companies are experiencing in obtaining early stage funding. Swanbridge Capital is an important initiative to improve the access to funding for our spin-offs,” says Thijs Spigt, director of the Technology Transfer Office of the Erasmus MC. “We are glad that Erasmus MC can contribute to such an initiative”, adds David Voetelink, member of the Board of Directors of the Erasmus MC.
Through active engagement of the fund management with its participations, Swanbridge Capital improves the chances of success of these companies. Nicky Rijk-Vogels, Fund Manager of Swanbridge Capital: “We want to support our companies with more than just capital. By making use of our own expertise, experience and network we want to add additional value to these young companies.”
Swanbridge Capital is located in the Rotterdam Science Tower and has a five year investment horizon.
For more information and interviews with the people involved, please contact:
Nicky Rijk – Vogels
T: +31 (0)6 1537 5258