The Austin-based investment firm plans to invest the funds in building a portfolio of 15-25 investments across biotech, health tech, and medtech businesses that demonstrate the genuine potential to deliver better health outcomes at lower costs.
Sante secured the capital from more than two dozen limited partners including the Pennsylvania PublicSchool Employees’ Retirement System and new institutional investors in Asia and Latin America. Returning limited partners in previous Sante funds made up nearly 90 percent of the total capital.
“The confidence and commitment of our investors led to the quickest fundraise since inception,” Kevin Lalande, Co-Founder and Managing Director of Santé Ventures, said in a news release. “We are grateful for their partnership as we deploy this next fund to capitalize on significant healthcare opportunities and nurture cutting-edge technologies that can improve lives.” “We have seen firsthand how events over the last 18 months have accelerated the adoption of technology in all facets of life, especially in healthcare,” Lalande said.
“Our team’s deep understanding of biological systems, machine learning, and health industry economics offers a truly differentiated investment platform. Santé’s disciplined portfolio strategy is designed to engineer the luck out of fund-level venture capital returns by delivering superior performance independent of vintage year and the broader macroeconomic cycle, as demonstrated in the success of our track record over the last 15 years. We are well-positioned to develop this next portfolio of compelling new venture opportunities, which will be consistent with the investment strategy and operating principles that have served the firm so well to date.”
As a first-mover in the healthcare and life science sectors, Santé typically leads or co-leads Seed or Series A fundraising rounds, often creating the new company from scratch or as an entrepreneur’s first institutional investor. Founded in 2006, Sante Ventures has made 76 investments and had 13 exits, according to CB Insights. It has invested in Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene) and Explorys (IBM Corp).
The firm has offices in Austin and Boston.