Qualcomm Life Fund [QLF], a healthcare fund run by US-based semiconductor company Qualcomm’s corporate venturing unit, has sealed its eighth deal. Qualcomm Life Fund, managed by Qualcomm Ventures, has backed GoBalto, a US-based clinical study startup, as part of a $12m round. The series B round was led by EDBI, the investment unit of Singapore’s Economic Development Board. GoBalto’s flagship product is Tracker, – a clinical research tool which allows clinical trial sponsors and research organizations to study patients. The round included existing investors, West Health Investment Fund, part of healthcare cost reduction-focused organisation West Health, and venture firm Aberdare Ventures, as well as GoBalto’s founding chief executive Jae Chung. The round takes GoBalto to $21m raised. Jack Young, director of Qualcomm Ventures, said: “The cost of clinical development has been on the rise at an alarming rate in recent years. Adopting digital and mobile technologies could potentially increase the efficiency and reduce errors. Qualcomm together with a growing number of eco-system partners which offer a variety of wireless health solutions are well-positioned to help the industry. We see synergy by teaming with GoBalto.” Young added: “The QLF builds an investment thesis by identifying a number of verticals with strong and sustainable drivers, right market timing, and massive adoption potential where we look for investment. Currently the verticals we are focusing on are: wellness/fitness, chronicle disease management, aging-in-place, transitional care, clinical trial and telemedicine/telehealth.” GoBalto was founded in 2008 in Silicon Valley by Jae Chung. Last year GoBalto raised $8.5m, according to two filings with US regulator Securities and Exchange Commission.
Sectors
- News & Analysis
- Home
- Global Corporate Venturing
- Global University Venturing
- Latest News
- Publications
- Podcast
- Deal Data
- Video
- Subscribe
- Newsletters
- Community & Events
Qualcomm Life Fund seals eighth deal
Dec 28, 2012 • Toby Lewis
LEADERSHIP SOCIETY
Informing, connecting, and transforming the global corporate venture capital ecosystem.
The Global Corporate Venturing (GCV) Leadership Society’s mission is to help bridge the different strengths and ambitions of investors across industry sectors, geography, structure, and their returns.Featured Content
FUNDING ROUND DATA Which corporates are backing which startups? Search our corporate deal database.FUNDING ROUND DATA
Which corporates are backing which startups? Search our corporate deal database.
About us
GCV provides the global corporate venturing community and their ecosystem partners with the information, insights and access needed to drive impactful open innovation. Across our three services - News & Analysis, Community & Events, and the GCV Institute - we create a network-rich environment for global innovation and capital to meet and thrive. At the heart of our community sits the GCV Leadership Society, providing privileged access to all our services and resources.
Navigation
test regLogin
Not yet subscribed?
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read MorePrivacy & Cookies PolicyPrivacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.