Petrichor Healthcare Capital Management
Description
Petrichor Healthcare Capital Management is a New York-based private investment firm exclusively focused on the healthcare sector. Founded by seasoned professionals, including Kevin Chen and Tadd Wessel, who previously held significant roles at OrbiMed Advisors, Petrichor brings deep industry expertise and a flexible approach to capital deployment. The firm specializes in providing customized investment structures, including growth equity, buyouts, and structured financings, to support healthcare companies in achieving their strategic objectives. They partner closely with management teams across various sub-sectors of healthcare, such as biopharmaceuticals, medical devices, diagnostics, and healthcare services.
Petrichor has successfully raised substantial capital to execute its investment strategy. In 2018, the firm closed its inaugural fund, Petrichor Healthcare Capital Partners, L.P., with $400 million in commitments. Building on this success, they subsequently closed their second fund, Petrichor Healthcare Capital Partners II, L.P., in 2021, securing $550 million in commitments. These significant fund sizes underscore Petrichor's capacity to provide substantial capital to its portfolio companies.
The firm's investment philosophy emphasizes long-term partnerships and tailored financial solutions designed to meet the specific needs of each company. Petrichor typically targets investments ranging from $20 million to over $100 million in equity and structured debt. This broad range allows them to support a diverse set of companies, from those seeking growth capital to more mature businesses requiring buyout financing or recapitalization. Beyond capital, Petrichor also offers strategic and operational support, leveraging its extensive network and industry knowledge to help portfolio companies navigate complex market dynamics and accelerate growth.
Investor Profile
Petrichor Healthcare Capital Management has backed more than 20 startups, with 2 new investments in the last 12 months alone. The firm has led 13 rounds, about 65% of its total and boasts 5 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Post Ipo Equity, Series Unknown, Debt Financing rounds (top funding stages).
- Majority of deals are located in United States, Germany, United Kingdom.
- Strong thematic focus on Biotechnology, Health Care, Medical Device.
- Typical check size: $20M – $100M.
Stage Focus
- Post Ipo Equity (30%)
- Series Unknown (15%)
- Debt Financing (10%)
- Post Ipo Debt (10%)
- Series C (10%)
- Series D (5%)
- Series B (5%)
- Convertible Note (5%)
- Series A (5%)
- Seed (5%)
Country Focus
- United States (80%)
- Germany (15%)
- United Kingdom (5%)
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Industry Focus
- Biotechnology
- Health Care
- Medical Device
- Health Diagnostics
- Biopharma
- Pharmaceutical
- Therapeutics
- Life Science
- Innovation Management
- Wellness
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