NEW YORK, June 13, 2024 /PRNewswire/ -- J.P. Morgan
Private Capital, a venture capital and growth equity investment
team within J.P. Morgan Asset Management, today announced the final
close of the first Life Sciences Private Capital offering, 270
Life Sciences Private Capital Fund I (the "Fund"), led
by Chief Investment Officer Stephen
Squinto, Ph.D. and Managing Partner Gaurav Gupta, M.D.,
M.S.E. The fund closed above its $500
million target, attracting strong support from investors,
including institutional allocators, strategic corporate partners,
family offices and high net worth individuals across North America, Europe, the Middle
East, and Asia, as well as
JPMorgan Chase & Co.
"We are pleased to announce the close of our inaugural fund,
which was raised in just over a year, almost two times faster than
our peers in the past decade1," said Dr. Stephen Squinto, Chief Investment Officer and
Managing Partner of J.P. Morgan Life Sciences Private Capital.
"As investors and company builders, we are strongly positioned at
J.P. Morgan Private Capital to identify and support highly
innovative companies that can shape the future of how patients are
treated. Our mission is not only to capitalize companies, but also
to utilize our collective experience to guide them towards
successful outcomes, and to mentor a new generation of
biotechnology founders and executives."
The Fund invests in private biotechnology companies across
stage, modality, therapeutic area, and geography. The Fund's early
company formation activities and portfolio investments span
cardiometabolic disease, oncology, immunology, and genetic
medicines. The Fund also aims to leverage the scale and resources
of J.P. Morgan to add value to portfolio companies.
"We are grateful for the support of our investors, and for the
key contributions of our strategic advisors and internal team
members, as we announce the close of our inaugural life sciences
venture capital fund. As the biotechnology industry enters the next
era of scientific discovery, we strive to become a partner of
choice for world-class researchers and entrepreneurs," said
Gaurav Gupta, M.D., M.S.E.,
Managing Partner of J.P. Morgan Life Sciences Private
Capital.
About J.P. Morgan Private Capital
J.P. Morgan Private Capital provides customized financing
solutions for private companies across the capital structure with a
focus on venture and growth investing. The platform's solutions
span the consumer, technology, and life sciences sectors. J.P.
Morgan Private Capital has a technology and consumer fund; J.P.
Morgan Growth Equity Partners, with US$1
billion in aggregate commitments that closed in April 2023. Additionally a biotechnology venture
fund; 270 Life Sciences Private Capital Fund I, with over
US$500 million in aggregate
commitments that closed in June
2024.
J.P. Morgan Private Capital is part of J.P. Morgan Global
Alternatives, the alternative investment arm of J.P. Morgan Asset
Management. With over 60 years of experience in managing
alternative investments, $214 billion
in assets under management and over 800 professionals (as of
March 31, 2024), its strategies cover
the full spectrum of alternatives: real estate, private equity,
private credit, liquid alternative products, infrastructure,
transport, hedge funds and forestry. From the Americas,
Europe and Asia, independent alternative investment teams
combine their cutting-edge expertise with J.P. Morgan's resources,
infrastructure and global reach to achieve each client's specific
objectives. For more information: jpmorgan.com/am
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
$3.1 trillion (as of December 31, 2023), is a global leader in
investment management. J.P. Morgan Asset Management's clients
include institutions, retail investors and high net worth
individuals in every major market throughout the world. J.P. Morgan
Asset Management offers global investment management in equities,
fixed income, real estate, hedge funds, private equity and
liquidity. For more
information: www.jpmorganassetmanagement.com. J.P. Morgan
Asset Management is the marketing name for the asset management
businesses of JPMorgan Chase & Co., and its affiliates
worldwide.
JPMorgan Chase & Co. (the "Firm") (NYSE: JPM) is a leading
financial services firm based in the
United States of America ("U.S."), with operations
worldwide. JPMorgan Chase had $3.9
trillion in assets and $328
billion in stockholders' equity as of December 31, 2023. The Firm is a leader in
investment banking, financial services for consumers and small
businesses, commercial banking, financial transaction processing
and asset management. Under the J.P. Morgan and Chase brands, the
Firm serves millions of customers in the U.S., and many of the
world's most prominent corporate, institutional and government
clients globally. Information about JPMorgan Chase & Co. is
available at www.jpmorganchase.com.
1 Preqin, 2024. Inclusive of first-time
healthcare venture capital funds launched between 2014 and
2024.
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SOURCE J.P. Morgan Asset Management