The vital signs for early-stage health and biotech companies in Austin are looking good — especially after healthcare and life sciences venture firm Santé Ventures replenished its coffers with $250 million.
The Austin-based venture firm’s third funding is double the size of its previous round and was 25 percent larger than the original funding goal. The firm plans to use that newfound capital to kick off its next round of investments in early-stage companies innovating in the medical field.
Over the last decade, we have proven and continued to refine our unique portfolio strategy, which is designed to engineer the luck out of fund-level venture capital returns.”
This round will enable the investment firm to broaden its base of investors and find the next startups looking to improve health care and reduce costs, said Kevin Lalande, co-founder and managing director of Santé Ventures in a statement.
“Over the last decade, we have proven and continued to refine our unique portfolio strategy, which is designed to engineer the luck out of fund-level venture capital returns,” Lelande said in a statement. “Our multi-disciplinary investment team partners with exceptional entrepreneurs to build innovative companies with the potential to deliver better health outcomes at lower total cost, without relying on exits at unicorn valuations to generate attractive returns for our investors.”
Founded in 2006, Santé Ventures typically invests in companies from the seed through Series B round as a lead or co-lead. It has invested in 33 companies in Texas and beyond.
The firm’s portfolio includes Austin-based companies like BioStable Science & Engineering, which is building technologies to treat heart valve diseases, and Lumos Pharma, which is working on a cure to an inborn metabolic error.
With this next funding phase, Santé Ventures plans to add about 20 to 25 more startups to its portfolio, so keep an eye out for them in future rounds. The firm’s first few investments span the range of companies building solutions for sleep apnea and Type 2 diabetes, as well as a company developing personalized cancer therapy.
Santé Ventures secured funding from over 30 limited partners, including new investor, Pennsylvania Public School Employees’ Retirement System.
