The Roche Venture Fund invests in companies with innovative new technologies, medicines or diagnostics, particularly in the areas of interest to Roche. This includes:
- Central Nervous System
- Metabolic Diseases
- in Vitro Diagnostics
- Diabetes Care
- Molecular Diagnostics
- Innovative research technologies.
We preferentially select companies with a unique technology and both a discovery engine and a product pipeline. We prefer Series B but have invested earlier with a syndicate we know well. For therapeutic biotechs, we are willing to invest in companies that are still 18-24 months away from the clinic.
Our initial investment ranges from CHF 1-5 million, depending on the stage of the company, the pre-money valuation, and the amount being raised. In general, we prefer to be in the 10-15% ownership range. We are a committed long-term investor, and ensure sufficient money is reserved in our fund for follow-on financing rounds. We like to develop strong relationships with our portfolio companies, and while we do not request board seats, we actively participate in board meetings as board observers.
Investing in connection with a collaboration
The Roche Venture Fund may also invest into companies that enter a licensing or research collaboration with the Pharma or Diagnostics divisions. In these circumstances, we work closely with Pharma or Diagnostics but conduct an independent due diligence which is not disclosed to our licensing colleagues without the permission of the company.
Once the investment is made it is treated in the same independent manner as any other portfolio company. For private companies, this means that Roche will participate in the next financing round pro-rata with the other preferred shareholders.
The Roche Venture Fund only invests in public companies as part of a collaboration entered into by Pharma or Diagnostics.