 Life Science Investor Mandates
(Nov. 9
- Nov. 16)
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Seeks Medical Devices and Diagnostics for Oncology, Cardiovascular and Other Large Markets
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Invests in Innovative Devices, Genomics, and Healthcare IT
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Seeks Approved Data-Driven Devices and Diagnostics
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Invests in UK Life Science Companies with High Growth Potential
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Click to see investors that are a fit for your product and stage of development
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Click here if you are a service provider and want to see a list of funded life science companies that are a fit for you
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Click here if you want to receive free, targeted early stage dealflow for your life science investment firm
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I talk to fundraising CEOs every day about raising capital to move their discoveries forward towards the market. I ask how they're conducting the process of finding, vetting and reaching out to investors who are a good fit for their product. Experienced CEOs are typically savvy in their approach to this process. They have a global view, they understand it's a numbers game, they are cognizant that the early stage investor landscape has changed and they have to adapt right along with it. Experienced fundraising CEOs have a p
lan
A, B and C because they are in tune with the ephemeral nature of global investor opportunities. Experienced CEOs get
that
it
'
s all about relationships and that fundraising takes time and unfortunately usually more time than they would like. Still they are experienced and they hang in there. However, often I find that less experienced CEOs have a prescription for how they want to get their funding - an attitude that always stuns me.
For example, the CEO might say "I haven't started yet but here is how I want my round to go down
:
W
e want to find a family office to lead the round, and we also need a strategic participant, perhaps an Asia-based large private pharma firm." These CEOs hope that LSN can simply write a prescription for some investors that will rush in to solve their problem. There is a prescriptive attitude that a family office will be easier to deal with and therefore give better terms
,
or deep pocket
ed
Asian investors will solve the future distribution issues
,
like it was that simple. Yes
,
it is good to think big
,
but underestimating the capital raising issues before you is a real tactical error. You need to to plan for the worst case scenario
.
Y
ou need to go global
, and realize
it will take more time then you hope for, and you
therefore
need a plan A, B and C...
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As a fundraising entrepreneur you ought to be having calls and meetings with a numerous potential investors and strategic partners. Now to my knowledge, no term sheet has ever been drafted and executed during that first conversation and as such follow up is a crucial piece of every fundraising campaign. As the VP of Market Research at LSN I split my time interviewing life science investors and helping companies navigate the fundraising process. In doing this I have developed a keen understanding of what makes companies really stand out from the pack with their investor communications and I would like to share with you some of what I have learned.
Follow up Starts During the End of the Meeting
We have written before about the importance of taking time during investor meetings to get to know and understand the investor as this can aid you in your pitch, however one question entrepreneurs often do not ask is "Can you walk me through your process?". Every investor differs in a number of ways including their process and timeframe for reviewing potential investments. Is the person your speaking with the decision maker? Or do they need to have a larger team review during a weekly meeting and agree to move forward? Having the answers to these questions can greatly help you in understand when and who to follow up with. Speaking of when to follow up, at the end of every meeting or call in addition to asking about process setting a date for when to touch base again is paramount. Deadlines and accountability make the world go round and in a world where every investor can be reviewing 10-20 deals at a time, having a deadline established for when to have feedback can help to ensure your opportunity gets proper attention in a timely fashion...
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What types of companies are medtech family offices looking for, and what evaluation criteria do these firms use? What types of trends do they see in medical technology, and what makes a device deal uniquely attractive to a family office? For the RESI San Francisco Conference, the LSN team is excited to announce the Medtech Family Office panel. On January 10th, five highly experienced individuals representing family offices in the medtech space will speak on behalf of these questions and more.
We will be joined by the following panelists:
- Jonathan Jonas, Partner, JVC Investment Partners
- Neda Amidi, Principal, Plug and Play Ventures
- Joseph Cook III, Principal and Co-Founder, Mountain Group Partners
- Eugene Durenard, Managing Director, Stetson Family Office
- Neil Wyant, Managing Director, Everett Partners
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