AN Venture Partners (ANV), a global biotech venture capital firm, has announced the final close of its first fund, AN Venture Partners I, LP, reaching its target of $200 million (JPY 29 billion).
Why it matters: This milestone makes it one of the largest Japan-focused biotech venture capital funds to date and one of the largest first-time biotech venture capital funds raised in the past year.
The details:
- The fund has attracted investments from over 20 Limited Partners, including Japan Investment Corporation, Shionogi & Co., Ltd., Otsuka Pharmaceutical Co., Ltd., MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation.
- ANV, founded in 2022 in alliance with ARCH Venture Partners, is set to invest across various stages from pre-proof-of-concept to advanced clinical stages in the biotech and biotech-related fields.
- The firm focuses on science originating from Japan but is open to global investments as well.
- ANV aims to play an active role in company creation and development, often working closely with founders to build global biotech companies.
Since its inception, ANV has invested in seven companies, including Capacity Bio, Typewriter Therapeutics, City Therapeutics, and Imbria Pharmaceuticals.
What they’re saying:
- “We are delighted to announce the successful close of our first fund at a record level and we want to thank all of our investors and advisors for their support,” said Ken Horne, Managing Partner of ANV.
- “We made our first investment in December 2023, and everything we are seeing confirms our initial hypothesis that Japan represents an untapped source for innovative science,” Horne added.
In alignment with the Japanese government’s policy to establish the country as a leader in biotechnology by 2030, ANV has been accredited as a certified venture capital firm by the Japan Agency for Medical Research and Development (AMED).
What’s next: ANV will continue to invest in and support biotech companies, with a focus on leveraging Japan’s robust scientific research and translating it into commercial success. The firm’s proactive engagement in Japan’s biotech ecosystem includes support for government initiatives and collaborations with academic institutions.