Israeli healthcare and life sciences venture capital firm aMoon, founded by Marius Nacht and Dr. Yair Schindel, has signed an exclusive agreement with Credit Suisse for Europe to raise $250 million - $100 million from institutional investors and a further $150 million from family office investors.
Having already closed investments from Marius Nacht himself and other investors in Israel, the US and Canada, aMoon Ventures second healthcare and life sciences venture capital fund, which will be officially launched in Tel Aviv this evening, could reach at least $400 million. This would make it the largest-ever Israeli life sciences investment fund, easily surpassing OrbiMed Advisors LLC $307 million second Israeli life science investment fund.
Schindel said, "This is Credit Suisse's largest ever investment in an Israeli fund. The fund carried out due diligence over three month during which time hundreds of hours was invested in investigating the management of our first fund and over 60 interviews were carried out with organizations that work with us."
aMoon also plans signing a similar exclusive agreement with an entity in the US and perhaps also in Canada.
Credit Suisse head of emerging Europe Robert Cielen said, "We have been given by aMoon exclusivity to offer our clients to invest $250 million in aMoon's new fund. This is part of our strategy to seek differentiated investment opportunities for our clients, especially wealthy individuals who have an infrastructure in place for these kinds of investments, i.e. family offices. Some of them are already generally interested in the healthcare-tech area."
"We see as a growing trend the use of technology for improving the human condition, and are very interested in what AMoon is doing. We are especially interested in the use of technology in healthcare."
"Credit Suisse is already pursuing a digital health strategy and also a robotics strategy, both invested in public companies, and there has been much interest in both of them from our clients. Many of our clients are entrepreneurs themselves, and they want to invest in disruptive technology."
Do you have any other involvement in Israeli life sciences?
"We run an Israeli high tech forum in which healthcare-oriented companies also participate, so we know the sector in Israel well."
Why did you choose aMoon?
"The people and the aligned strategies. When chemistry (between people) and DNA (of the companies) meet, wonderful things can be done together."
aMoon's first $70 million fund was set up 18 months ago with money solely put in by Check Point Software Technologies Ltd. (Nasdaq: CHKP) founder and chairman Marius Nacht. He has sold shares in Check Point over the past few years in order, among other things, to found the healthcare fund. Schindel, a former head of the government's Digital Israel venture was brought in to manage the fund.
Marius Nacht is the former husband of Anat Agmon who owns 50% of "Globes" owners Monitin.
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2018
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