US-based healthcare provider Quintiles Transnational has spun off its corporate venturing unit NovaQuest.
News provider In Vivo, which spotted the move to independence by NovaQuest, said a regulatory filing by the investment team showed it had raised $117m of a planned $500m fund.
Quintiles, which started NovaQuest in 2006, told In Vivo it would be a minority investor in the fund’s six limited partners but would also make investments from its Capital Solutions division.