Adament Biomedical forms venture capital subsidiary

Financial adviser Adamant Biomedical Investments has formed a new venture capital subsidiary in the UK, called Adamant Ventures. It will be based in Edinburgh and will target investments in healthcare companies based in the UK, Scandinavia, Central Europe and the US.

Adamant Venture will manage healthcare venture fund Healthcare Private Equity Limited Partnership (HPLEP), which was established by Scottish Widows Investment Partnership (SWIP) in 2002. Recent investments include Cara Therapeutics and Radius Pharma. Bill Blair joins Adamant from SWIP, where he has been managing HPELP since its inception. Basel-based Adamant Biomedical Investments was founded in 2000 and manages and advises more than $1bn of healthcare assets across several funds.

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