U.S.A-based, West Coast-centric, an early stage-biased life science venture capital, Red Tree Venture Capital, closed its inaugural fund at USD 272 million. The company announced the closure of Red Tree Venture Capital Fund I on October 6, 2022.
Purpose of the fund by Red Tree Venture Capital
Red Tree has already committed a portion of its new fund to investments in ten companies. Each of its ten portfolio companies is at the forefront of scientific innovation within its field.
The company’s commitment includes companies such as Acrigen Biosciences, Alladapt Immunotherapeutics, Ceribell, Excellergy Therapeutics, Magnus Medical, Pipeline Therapeutics, Rondo Therapeutics, Sardona Therapeutics, Syncopation Life Sciences, Virsti Therapeutics.
What the company’s officials have to say
Dr Edwards, managing director of Red Tree, said, “The West Coast biotech ecosystem, particularly in California, is truly unique. It offers some of the most cutting-edge science and vibrant collaboration that I have encountered during my years as a life science investor. At Red Tree, we feel strongly that there is a key need for more early-stage capital working alongside the region’s talented academics and entrepreneurs to support continued efforts to bring innovative medicines to patients. We are proud to have secured the trust of our limited partners in our vision. We look forward to building great companies on the West Coast.”
In addition, Dr Jennifer Cochran, co-founder and chief scientific advisor of Red Tree Venture Capital, added, “Red Tree has already generated momentum launching an exemplary portfolio through investments from our inaugural fund in areas spanning gene editing, cell therapy, bispecific antibodies, oral immunotherapies and non-invasive neural stimulation, among others. We are particularly proud of the fact that more than half of the companies that we have invested in have female founders and/or CEOs. We look forward to actively collaborating with our portfolio companies. Our team intends to support the advancement of their transformative science toward the goal of delivering impactful treatments to patients around the world.”
Besides, Dr Heath Lukatch, co-founder and managing partner of Red Tree Venture Capital, said, “We are extremely grateful for the support of our limited partners and the trust they have placed in our team and our vision for Red Tree. We believe that there is a significant untapped opportunity for a venture group focused on sourcing and supporting innovation emerging from premier academic and research institutions on the West Coast. Based on our team’s deep experience, successful track record, and unique access to top West Coast talent, Red Tree is well positioned to serve as a partner-of-choice for academic founders and entrepreneurs who are looking to create and build world-class life science companies.”
About the company
Heath Lukatch, PhD and Jennifer Cochran, PhD, launched the Red Tree Venture Capital in 2020. The U.S.A-based life science venture firm focuses on investing in innovation emerging from premier West Coast academic and research institutions.
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