Colorcon launches $50 million venture capital fund to invest in promising startups supporting the pharmaceutical industry
Colorcon, a Pennsylvania-based company that develops, supplies and supports specialty products for the pharmaceutical industry announced the launch of $50 venture capital fund called Colorcon Ventures. The new fund will invest in and support promising technology startup companies in the pharmaceutical industry. The 58-year old Colorcon’s business focus is on advanced coating systems, modified release technologies and functional excipients for use in pharmaceutical immediate and modified release dosage forms.
Colorcon Ventures is focused on startups that are strategically relevant to the core Colorcon business. The fund will target investments in transformational solutions across manufacturing, supply chain, and delivery of pharmaceutical products and services. The fund is not investing in companies developing active ingredients or molecules.
The fund will be stage-agnostic, with an emphasis on early and mid-stage companies that demonstrate product market fit and revenue growth. Colorcon Ventures will invest in startups where Colorcon can add value in the form of subject matter expertise or commercial relationships, and leverage Colorcon’s global reach, relationships within the pharmaceutical industry, and agile R&D approach.
“We are excited to launch this venture fund to support the growth of startup companies in the pharmaceutical and healthcare industries,” said Martti Hedman, CEO of Colorcon. “Colorcon has a rich history of innovation and we believe this fund will allow us to continue to serve our customers by partnering with startups.”
Touchdown Ventures, a firm specializing in corporate venture capital, will help manage the Colorcon Ventures fund. Touchdown will work closely with senior executives of Colorcon in all aspects of operating the fund.
“The promise of corporate venture capital is to bring more than just money to the table. A successful corporate investor can generate meaningful value by facilitating commercial relationships with its portfolio companies. We believe that Colorcon Ventures, through close association to the senior executive and business units of Colorcon, is well poised to accomplish this goal,” said David Horowitz, CEO of Touchdown.