Catapult holds first close for GM&C Life Sciences Fund

Catapult has a team of five professionals dedicated to the new vehicle, which has an estimated lifespan of 15 years, with Gareth King being the latest addition.

The VC hopes to hold a final close later this year and to reach a target of £45m.

Investors
Investors in the fund are Cheshire & Warrington Local Enterprise Partnership, Greater Manchester Combined Authority, Cheshire East Council and Manchester Science Partnerships.

Investments
The seed and early-stage fund targets life sciences businesses located in the Greater Manchester and Cheshire & Warrington region. It will back companies in the pharmaceuticals, biotechnology, diagnostics, life sciences contract research, healthcare technology and medical devices sectors.

GM&C will provide capital between £50,000-3m to its portfolio companies.

People
Catapult Ventures – Gareth King (investment manager).

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