Puerto Rico-based LemVega Capital launches Biotech Venture Fund III
San Juan-based LemVega Capital, a minority- and women-owned private investment management firm, has announced the launch of its third fund, a new venture focused on the “dynamic and rapidly evolving” biotechnology sector.
LemVega Capital Biotech Venture Fund III, co-founded by Asmita Kulkarni and Caroline Farah Lembck, has as its primary focus startups developing innovative solutions in bioengineering, bioremediation, tissue regeneration, stem cell and gene therapy, plant-derived therapeutics, and psychedelic therapeutics.
LemVega Capital has built a reputation for delivering success with its inaugural Fund I and follow-up Fund II.
The new fund is crafted with a vision to identify, invest in and foster the growth of early-stage biotech startups, especially those spearheaded by underrepresented entrepreneurs with trailblazing ideas and discoveries, the women said.
The co-founders said the fund offers an investment opportunity that promises growth potential while fostering a future that is inclusive, diverse and equitable.
“We bring to the table a wealth of deep industry knowledge, broad networks and disciplined risk management approaches, enabling us to discover opportunities that resonate with our dedication to revolutionizing health care and improving the lives of people around the globe,” said Kulkarni, whose background in biotechnology and leadership in a life-sciences-focused intellectual property consulting firm provide a unique perspective to the venture fund.
Lembck added that “investing in LemVega Capital’s Biotech Venture Fund offers investors an opportunity to be a part of transforming the biotech landscape, not just in Puerto Rico, but on a global scale. Our objective is to cultivate a portfolio of avant-garde biotech companies that can make a significant positive impact on the world, while concurrently delivering substantial returns to our investors.”
With its base in Puerto Rico, LemVega Capital benefits from incentives for biotech companies, rendering it a “prime location for investment and business growth.”