Global venture capital firm Lightstone Ventures (LSV) closed a US$50m fund focused on investing in Singapore-based life sciences companies.
Limited Partners in Lightstone Singapore, L.P., include Temasek, an investment company based in Singapore, and EDBI, the corporate investment arm of the Singapore Economic Development Board.
The fund will focus on company creation and consider additional opportunities as well including existing later-stage Singapore-based companies or projects targeting Asia Pacific markets.
In order to manage the vehicle, LSV will establish a wholly-owned subsidiary, Lightstone Singapore Pte. Ltd., a Singapore-based fund management company consisting of a dedicated team led by former Lightstone Venture Partner Dr. Kenneth D. Noonan, Ph.D., and joined by Investment Associate Dr. Wen Qi Ho, Ph.D.
Founded in 2012 by the General Partners of the life science teams at Advanced Technology Ventures (ATV) and Morgenthaler Ventures, Lightstone Ventures invests in early-stage medical device and biopharmaceutical companies that have the potential “to change medicine”. The firm now has offices in Menlo Park, CA, Boston, MA, Boulder, Co, Dublin, Ireland, and Singapore.