CALGARY, AB: KASTx Life Science Fund I announces the first closing of its inaugural fund with a target size of CA$5M. Focusing on pre-seed and seed life sciences companies, the fund aims to support commercially scalable ventures sharing a common goal to improve societal outcomes in health and technology. Leveraging the seasoned leadership team of KASTx Ventures, a biotech-focused venture capital firm, the fund invests in companies based in Canada or the United States in three investment areas: therapeutic development, medical devices, and digital health technologies.
“The fund is the result of our hands on experience working with entrepreneurs in the life sciences sector,” said KASTx Ventures Founding and Managing Partner Mark Starratt. “World-class scientists need operational support and access to capital to successfully commercialize, so this fund will be an important vehicle in de-risking and accelerating these companies.”
Growth in investments for life sciences companies skyrocketed during the pandemic, when medical innovation became paramount to global populations. In the US, overall investment dollars in the industry are on track to exceed pre-pandemic years by roughly 20% with seed and early-stage VC funding continuing to grow. In Canada, trends are similar, with life sciences investing remaining in line with 2020 levels despite an overall investment dollar decline in 2022, especially when compared to 2021’s outlier year.
With capital markets demonstrating a vested interest in continuing to support Canadian and American life sciences innovations, the KASTx Life Sciences Fund I will provide a steady hand to growing companies through early-stage funding.
“There is ample opportunity for life sciences across North America,” said KASTx Ventures Chief Operating Officer Christian Idicula, “we are excited to grow the pipeline and support innovative health companies make a global impact.”
KASTx Ventures Inc. is a Special Limited Partner to KASTx Life Sciences Fund I. KASTx Ventures is working with world-leading start-up biotechnology companies with a shared vision to have a positive and sustainable impact globally, focusing on the areas of health, technology, and environmental sustainability. KASTx Ventures provides the people and resources needed to turn disruptive ideas into reality, to make the world a better place and turn today’s best science into tomorrow’s best ventures.
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This document is for information purposes only and does not constitute an offering of any security, product, service or fund. This document does not constitute investment advice and may not be used in making any investment decision. This document contains only summary information, and no representation or warranty, express or implied, is or will be made in relation to the accuracy or completeness of the information contained herein, by KASTx Life Sciences Fund I or any of its affiliates. Some of the statements contained in this document are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are based on certain assumptions and reflect KASTx Life Sciences Fund I current expectations. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, predictions or conclusions will not prove accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. The reader is cautioned not to put undue reliance on forward-looking statements.