Angelini Ventures plans to broaden its investments in healthcare startups in the Asian region.
Angelini Ventures, the healthcare investment arm of Italian family-owned industrial conglomerate Angelini Industries, has opened an office in Singapore to boost its investments in Asian biotech and healthtech startups.
The ventures unit is partnering with Enterprise Singapore, the government’s economic development agency, to mentor and provide business development support to local biomedical startups seeking to expand into Europe and other overseas markets.
“Asia is an attractive hub for life sciences and biotech innovation, clinical translation and product development,” said Paolo Di Giorgio, CEO of Angelini Ventures, in a release. “Strong policy support has also helped enhanced the region’s innovation capacity and talent pool. As a venture capital firm focused on biotech and healthtech, we want to be in the epicentre of this growth and Singapore is the ideal location to make it happen.”
Angelini Ventures manages a €300m ($348m) evergreen fund that invests in and builds early-stage companies in biotech, digital health and life sciences. One of its Asian portfolio companies is Singapore-based biotech company Nuevocor, which raised a $45m series B round in May co-led by Angelini Ventures.
The Singapore office will be headed by Angelini Ventures managing director Elia Stupka.
