Secondary direct investment firm Saints Capital is teaming up with Oxford Bioscience Partners and making an investment in a partnership with Oxford that will make follow on investments in six positions initially owned by Oxford. In conjunction with the transaction, Terry Vance, formerly a Managing Director at EGS Healthcare Capital Partners, is joining Saints as a venture partner to manage certain positions in the new partnership.
SAN FRANCISCO, CA–May 17, 2011 — Saints Capital, a leading secondary direct investment firm, today announced that it has closed on an investment in a partnership with Oxford Bioscience Partners. The new entity will make follow-on investments in and manage up to six positions originally owned and managed by Oxford Bioscience Partners IV, LP (OBP IV); Oxford will continue to manage the other positions in the OBP IV portfolio which will not be transferred to the new partnership with Saints.
“Oxford Bioscience IV, L.P., a 2001 vintage life sciences venture fund, invested at an early stage in a number of high quality companies and we are excited to have the opportunity to participate in their further development and eventual exit,” said Scott Halsted, Managing Director of Saints Capital. “We are pleased that we had the opportunity to work with Oxford to identify and structure a solution which allowed Oxford and its limited partners to maintain investment in these companies while Saints provides needed cash and additional management resources. We are especially delighted with the reception the transaction has received from the individual portfolio companies.”
“We are very pleased with the transaction,” said Jonathan Fleming, Managing Partner at Oxford, “Saints will provide capital and management support for up to six great companies that need more time and money to achieve full value. This transaction allows our partnership to focus on the many remaining winners in the OBP IV portfolio, as well as our fund V portfolio. In addition, it gives us bandwidth to make new investments within our Asia focused fund.”
Saints is the leading global investment firm focused on the acquisition and management of private equity portfolios on a secondary basis. These activities assist sellers who are seeking to obtain immediate liquidity for their investment stakes or to minimize future investment requirements in private equity. Saints remains committed to partnering with sellers to meet their objectives while providing portfolio companies with the necessary follow-on capital and a stable, long-term committed investor base.
In conjunction with the transaction, Terry Vance, formerly a Managing Director at EGS Healthcare Capital Partners, is joining Saints as a venture partner to manage certain positions in the new partnership.
Saints has a proven track record of successful healthcare investments, having been active investors in companies such as Acorda Therapeutics, Asthmatx, CardioMEMS, CardioNet, ECIN, ePocrates, Evalve, MediGuide, Reva Medical and Spiration.
Saints has over $1 billion of committed capital across fourteen funds, through which Saints has acquired secondary investment interests in over 220 companies.
About Saints Capital
Saints Capital is a leading direct secondary acquirer of private equity investments in emerging growth companies around the globe. Saints also makes traditional direct growth equity investments on a primary basis and in special situations in technology, healthcare, consumer and industrial companies in the United States. Saints is headquartered in San Francisco, with investment professionals throughout Europe and Asia. Saints currently manages funds with investments in more than 220 individual companies totaling more than $1 billion in invested capital. www.saintsvc.com
About Oxford Bioscience Partners
Oxford Bioscience Partners (OBP), established in 1992, is a venture capital firm that provides equity financing and management assistance to emerging, entrepreneurial-driven companies within the life sciences and healthcare sectors. Experienced partners, who bring together deep domain knowledge in life sciences, have established a proven track record of identifying, validating and backing emerging trends and technologies. While willing to consider an investment in a company at almost any stage, OBP brings unique value and expertise to early-stage situations. OBP has invested in over 140 life science companies worldwide, and has successfully leveraged the extensive research, operating, and financial expertise and experience of its team of investment professionals. www.oxbio.com