Garmendia helps Ysios Capital raise a fund that Wagner, Salaverría, Olazábal and Klein will help deploy

From our Women's PE Briefs - week commencing May 31, 2021

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Kaszek raises $1B in new funds

Kaszek, whose investment team includes partner Mariana Donangelo, closes new two funds. The Latin American venture firm raised a total of $1 billion, lining up $475 million for an early-stage fund and $525 million for a late-stage fund. Two years ago, Kaszek raised $600 million. Based in Sao Paulo, Kaszek invests across Latin America – with the majority in Brazil.

Mariana joined Kaszek last year after being with Invoice2go. Her background also includes spending five years as an investor at Accel Partners.

Garmendia helps Ysios Capital raise a fund that Wagner, Salaverría, Olazábal and Klein will help deploy

Ysios Capital, a Spanish biotech-focused venture firm whose investor relations and fundraising activities are overseen by general partner Cristina Garmendia, closes its largest fund – a fund which will be deployed by an investment team that includes general partners Karen Wagner and Julia Salaverría, partner Paula Olazábal and venture partner Pamela Klein.

Ysios said it has received commitments of 216 million euros for Ysios BioFund III. A year ago, it held a first close of 155 million euros. Ysios had set out with a target of 200 million euros. The firm now has 400 million euros under management, which includes its 65 million euros first fund and its 126 million euros second fund. Like those prior funds, the new fund will invest in companies developing therapeutic products and platform technologies to address clear medical needs. It will invest up to 20 million euros in 15 companies, mainly in Europe and with a special interest in Spain. To date, Ysios has used the fund to make investments in the following eight companies: Ona Therapeutics, SpliceBio, VarmX, SparingVision, Synendos, Adcendo, Cytoki Pharma and Lava Therapeutics, which is now public.

Karen focuses on therapeutic investments and serves on the boards of Vivet Therapeutics, AELIX Therapeutics and Minoryx Therapeutics. Julia is in charge of financial and legal due diligence activities, such as negotiation of term sheets and investment agreements. Paula monitors the firm’s portfolio companies and evaluates investment opportunities from a financial and legal perspective. Pamela joined Ysios last year and supports the evaluation of potential investments and advises on investment decisions. She is founder of PMK BioResearch and a former vice president of development at Genentech/Roche.

During its 13 years of existence, Ysios has invested in 33 companies. These include TiGenix, which was sold to Takeda for 450 million euros; BioVex, which Amgen has agreed to buy for up to $1 billion; and STAT-Dx, which Qiagen agreed to buy for up to 172 million euros. The firm has offices in San Sebastian and Barcelona, Spain.

Folkmann’s Mindset Ventures raises a new fund

Mindset Ventures, whose team includes co-founder Camila Folkmann and partner Jules Miller, raises a new fund. The international venture firm closed its third fund at $52 million.

Mindset has offices in San Francisco, Tel Aviv, Israel and Sao Paulo. An early-stage firm, Mindset primarily focuses on the United States and Israel and looks to back companies seeking to scale their business abroad, especially in Latin America. The firm tends to target B2B SaaS startups with strong technology applied to agriculture, financial services, health care, cybersecurity and education.

Camila founded Mindset in 2016 with Daniel Ibri. Jules joined the firm last year after being a partner of IBM Blockchain Ventures.

Eckert helps Frazier raise a $1.4B fund that Reszka and Berman will be involved in deploying

Frazier Healthcare Partners’ growth buyout unit, whose investor relations activities are led by Carol Eckert, closes its tenth fund – a fund that principal Christina Reszka and senior associate Clarissa Berman will be involved in deploying.

Frazier closed the fund at $1.4 billion, nearly double its $780 million ninth fund. The firm will use the fund to invest $50 million to $100 million in 10 to 12 middle-market health care companies with EBITDA of $10 million to $70 million. It will specifically focus on pharmaceuticals services, hospital outsourcing and data analytics/AI.

Carol, who is a vice president, has been with Frazier for five years. Christina joined Frazier in October 2019 and is on the boards of United Derm Partners and Accuity Delivery Systems. Clarissa also joined Frazier in 2019 and is involved with portfolio companies Vein Clinics of America, EPTAM Precision, Alteon, AppianRx, MedData and Leiters. Frazier also has a separate life sciences unit.

Burks Solomon’s Collab Capital closes its debut fund

Collab Capital, which was co-founded by Jewel Burks Solomon to invest in Black founders, closes its debut fund. The Atlanta venture firm hit its $50 million target. Investors in the fund, according to TechCrunch, include Apple, Goldman Sachs, Google, The Andrew W. Mellon Foundation, and PayPal. Jewell founded Collab with Justin Dawkins and Barry Givens.

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