NovaQuest Capital Management, L.L.C, a Raleigh, NC-based healthcare and life sciences focused private investment firm, closed NovaQuest Private Equity Fund I, L.P., at $275m.
Fund I received support from a global investor base including leading insurance companies, pension funds, asset managers, fund of funds, family offices and high net worth individuals.
The vehicle will continue NovaQuest’s focus on investing in and building leading services and technologies in the healthcare and life sciences sector with a dedicated private equity platform. The firm targets growth-oriented opportunities that help reduce the total cost of care, meet unmet medical needs, reduce unnecessary procedures, improve efficacy (therapeutics or prevention) and / or improve the quality of life.
Fund I started investing in March 2018 and has made three platform investments and two add-on acquisitions to date:
- Azurity Pharmaceuticals, a provider of drug delivery technology solutions that provide patients access to customized dosage forms;
- Clinical Ink, a provider of eClinical services and technologies, including eSource, ePRO, eCOA, among others; and
- Catalyst Clinical Research, a provider of outsourced clinical services for clinical trials.
Co-founded by Dennis Gillings, Ph.D, CBE and Ron Wooten, NovaQuest Capital Management currently manages over $2.5 billion through its Product Finance and Private Equity strategies.