Already a subscriber?Two surgeons behind a new $50 million venture capital fund based in the Southern Highlands argue they can do a better job at commercialising medical research than investment bankers and fund managers.
The fund, which has raised a “vast majority” of its early capital from other surgeons and doctors, has been set up to back medical start-ups with the potential to “substantially change human existence for the better”.SoHi will only invest in companies with a global addressable market worth $US1 billion , and which can potentially deliver a 20 times capital return and significantly improve patient outcomes.
Both start-ups are likely to receive backing from SoHi Partners, which will enable them to conduct human trials. Under the fund’s conflict policy, Dr Hartnell and Dr Diwan are exempt from any voting rights or any investment decisions that relate to their own company. “We’ve got two of the world’s leading orthopedic surgeons in Dr Hatrnell and Dr Diwan. That gives us an eye and an ear inside the medical world,” Mr Speers said.