PRINT THIS PAGE NGN Capital closes first healthcare venture capital fund above target on $250m21/10/2005. Source: AltAssets. 
 NGN Capital has closed its first healthcare venture capital fund, NGN BioMed Opportunity I, on the self-imposed hard cap of $250m, above its initial $150m target. The new fund will focus on investments in the US and Europe. About ten per cent are allocated to other regions including Asia.
Kenneth S Abramowitz, managing general partner and co-founder of NGN Capital, said, 'The concept of targeting late stage global healthcare opportunities, in combination with a team formed from leading firms in the industry has been received quite well among investors. We are proud to have been able to attract a very strong investor base right from the beginning, comprising reputable financial institutions, state pension funds as well as premier corporate and strategic investors, globally diversified.'
Georg Nebgen, managing general partner and co-founder of NGN Capital, added, 'Utilising a broad range of capabilities enables NGN to capture promising investment opportunities across various sectors including pharmaceutical/ biotechnology products, medical devices, diagnostics and services.'
Investors in NGN BioMed Opportunity I include the European Investment Fund. NGN Capital's new fund had a first closing on $98m in May 2004.
NGN Capital has offices in New York, Heidelberg (Germany) and in Greenwich (US). NGN has investment capabilities across a broad spectrum of healthcare segments, including drug products, medical devices, and healthcare services, with an emphasis on later stage opportunities.
Copyright © 2005 AltAssets
|
