Biospring Partners Closes Debut Fund with $245 Million of Committed Capital to Invest in Life Sciences Technology Companies

Growth equity firm focused exclusively on B2B life sciences technology companies

NEW YORK, June 8, 2022 /PRNewswire/ -- Biospring Partners, a growth equity firm exclusively focused on B2B life sciences technology companies, today announced the closing of its debut fund with north of $245 million¹ in capital commitments from pension plans, fund of funds, endowments and foundations, and family offices. The firm aims to invest in companies with the potential to fundamentally shift how technology is utilized across the life sciences sector.

Co-Founders and Managing Partners, Michelle Dipp, M.D., Ph.D. and Jennifer Lum, believe that life sciences innovation is accelerating due to increasing access to sequencing, cloud computing, and machine learning technologies in addition to significant advancements in synthetic biology and gene editing. Biospring's investments are working to push the healthcare industry forward by enabling new forms of biopharma manufacturing, diagnostic testing, and software applications that are fundamentally changing how we research, diagnose, and treat disease.

"We focus on identifying long term themes within life sciences technology in order to identify biopharma services, tools and software companies at the growth stage. We aim to partner with management teams prior to investing in them to add value through our experience and network," Michelle Dipp said. A physician scientist by training, Dipp has invested as a General Partner for over 12 years. Prior to Biospring, Michelle Dipp was a Managing Director at General Atlantic where she launched and led their life sciences investment platform. Prior to that, Michelle was Co-Founder and General Partner of Longwood Fund.

Jennifer Lum, an experienced operator who's started, scaled, and sold multiple companies, added, "The accelerating convergence of tech and the life sciences is creating new and large investment opportunities. We're excited to be investing in transformational companies that are driving innovation across the ecosystem."

Joelle Kayden, Founder and Managing Director of Accolade Partners, a Biospring Limited Partner, said, "For over 20 years, Accolade has identified and backed first-time funds that have gone on to deliver industry-leading returns. Since our initial conversation, we believed that Biospring would join that list. Michelle and Jennifer combine impressive backgrounds and grit; qualities that are necessary ingredients for success. We were delighted to commit to their fund early in their fundraising process and congratulate them on the final close."

Biospring's current portfolio companies include PathAI, ixlayer, and Kiniciti, and Abzena. PathAI's Co-Founder and CEO, Andy Beck said, "Michelle and Jennifer have been outstanding partners with PathAI. Biospring brings a differentiated integration of business, strategy, technology, and bio-pharma experience, and it's been an honor to have the opportunity to work closely with them."

As a female-founded and led team with both investment and operations experience across life sciences and technology, Michelle and Jennifer, along with Biospring's Advisory Board, are bringing decades of experience and insight into a large and growing sector.

Biospring Partners is a growth equity firm that invests in life sciences technology. Founded in 2020, Biospring leverages its deep experience to support B2B software, tools, and biopharma services companies that are driving innovation across the life sciences industry and beyond. Biospring is well positioned to partner with life sciences technology companies that have the potential to fundamentally change how we research, diagnose and treat disease. For more information, please see www.biospring.com.

Contact: biospring@sunshinesachs.com

¹Includes related co-investment vehicles managed and/or advised by Biospring Partners.

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SOURCE Biospring Partners