New Ventures closes $90M for its Third Fund to invest in early to mid-stage healthcare and digital medicine startups

New Ventures, a venture capital firm that invest in healthcare companies, has raised a total of $90 million for its firm’s third fund, New Ventures III. Founded by a group of co-founders and entrepreneurial operators, New Ventures III follows in the footsteps of the two previous funds, New Ventures I and New Ventures Select with an investment strategy of focusing on investments in a diversified portfolio of early to mid-stage therapeutics, digital medicine opportunities, and pharmaceutical royalties.

New Ventures’ first fund was launched in 2006 and since then the team has repeatedly created, invested in, and exited multiple companies in therapeutics, precision medicine, diagnostics, and various high impact technology verticals.

“The success of our third fund’s fundraising efforts validates the strategy employed by our team. We continue to invest in novel therapeutics and digital medicine products that improve the quality of patient care and benefit healthcare through addressing unmet needs. We greatly appreciate the confidence of our long-time limited partners as well as new institutional investors and family offices,” Mark Finn, General Partner, said.

The management team of the Fund consists of Mark Finn, Rory Riggs, Jonathan Finn, Dr. Richard Warburg, and Harry Glorikian. The partners have unique backgrounds as founders, operators, and investors in the healthcare and digital medicine space, which has allowed them to identify unique investment opportunities in early to mid-stage therapeutics, digital medicine products, and drug royalties. Harry Glorikian, General Partner, said, “The diversity of knowledge, depth of experience and network of each team member is a true differentiator of our investment team. We each provide expertise at each stage of the investment process, from developing IP, structuring an investment, managing portfolio companies, and developing successful exit strategies that seek to maximize shareholder value.” The hands-on expertise of the New Ventures team allows us to assist our portfolio companies at each stage of development. The team has had the pleasure of working together for years, developing, growing and managing profitable sales of multiple companies in therapeutics, precision medicine, diagnostics, and other high-impact technology companies.

General Partner, Jonathan Finn, commenting on the direction of the Fund, said, “We continue to see an immense amount of opportunity in the healthcare and digital medicine space and continue to add shareholder value by investing in novel products and services that are truly disruptive and improve the human condition.”