Nextech raises $64m fund

The vehicle closed below its $80m target. The first closing was held in September 2014, while the final closing happened months before the official announcement, back in March 2016. No placing agent was involved.

Nextech has $250m under management across four funds, of which three are focused on investing in oncology treatment developers.

The investor stated it consults a scientific board when choosing its investments. The board includes scientists from Harvard Cancer Center, Cambridge University and others.

Investors
The vehicle attracted limited partners from the US, Europe and Asia, including family offices, high-net-worth individuals, cancer foundations and institutional investors.

Investments
Oncology Fund IV invests in companies that develop therapeutics for the treatment of cancer. Nextech takes minority stakes in businesses, but as a private equity firm, it leverages its investments.

Nextech expects an investment period of three years, which will end in mid-2017, targeting six to eight portfolio companies. It aims to deploy $3-10m per transaction.

The investor said it has a stronger allocation in the US than Europe, because its investment criteria are more often met by overseas businesses. The vehicle has so far invested in three American businesses: Peloton Therapeutics, Kura Oncology and Jounce Therapeutics.

People
Nextech Invest – Alfred Scheidegger (founding partner); Thilo Schroeder (partner). 

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