1315 Capital, LLC, a Philadelphia, PA-based expansion and growth equity firm that invests in commercial-stage specialty pharmaceutical, medical technology and healthcare services companies, closed a growth fund, at over $300m.
Similar to the first fund, 1315 Capital II includes endowment, foundation, public and private pension, and family office limited partners.
Led by Michael Koby and Adele Oliva, Founding Partners, 1315 Capital will invest on average $10-$30m into existing companies, or as part of the creation of a commercial stage ‘jumpstart’.
Of the eight current portfolio companies, four have been “jumpstarts” where 1315 Capital partnered with experienced management teams on acquiring or licensing commercial stage assets as a platform for growth.
Since closing its first fund in 2016, the 1315 Capital team has expanded, adding senior investment professionals Matthew Reber and Edward Chan to the firm. In addition, 1315 Capital Operating Partners Tim Einwechter, Rick Ferreira, Antony Koblish, John Spitznagel, Greg Stokes, and Paul Touhey will continue to work alongside the investment team and portfolio companies.
The new fund brings the firm’s total assets under management to more than $500m.