Theodorus, which has rebranded as Seido Capital and relocated its headquarters from Europe to Canada, is now looking to target the country’s growing life sciences sector. The VC firm clinched $45 million in commitments so far for its Fund V, more than halfway to its $70-million goal. (BetaKit)
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Theodorus, which has rebranded as Seido Capital and relocated its headquarters from Europe to Canada, is now looking to target the country’s growing life sciences sector. The VC firm clinched $45 million in commitments so far for its Fund V, more than halfway to its $70-million goal. (BetaKit)
Talking point: Eighty per cent of the fund is going to go towards early-stage life sciences startups in Canada, co-founder Théo Risopoulos said. Canadian universities’ talent and research was a key factor in the firm’s decision to move. Canadian life sciences companies raised $939 million in VC funding in the third quarter, according to the Canadian Venture Capital and Private Equity Association. While Canadian life sciences companies only receive seven per cent of venture funding in the country, they generate 44 per cent of VC exit value, a report from RBCx shows, with major exits from companies like AbCellera, Chinook Therapeutics and Fusion Pharmaceuticals.
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