Venture capital and growth equity firm Telegraph Hill Partners has hired life sciences veteran Paul Grossman as a venture partner.
Grossman was most recently head of global strategy and corporate development at Life Technologies, where he was responsible for spearheading the company’s corporate strategy, licensing, business development and acquisition activities.
He held the same position at Invitrogen Corporation prior to its merger with Applied Biosystems in 2008.
THP chairman Matt Mackowski said, “We are delighted to have Paul join our team. For over three decades Paul has been one of the leading innovators in the life science industry, initially as a scientist and later as a business strategist.
“Paul’s experience and insights will contribute to our investment decisions as we deploy our new fund, and will be a tremendous benefit to our portfolio companies.”
Last summer San Francisco-based THP hit more than double the target of its last life science-focused fundraise by closing its third vehicle on $310m.
The healthcare investor gathered commitments from 70 LPs towards the vehicle according to a filing with the US Securities and Exchange Commission, which showed the fund only registered its first LPs 12 months ago.
THP III is the largest fund the firm has raised since it was founded in 2001, and will continue to target revenue generating life science and medical technology companies at or near profitability.
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