Italy-based pharmaceutical and specialist medicine company Chiesi Group has formed Chiesi Ventures, a corporate venture capital fund to target early-stage investment opportunities in companies focused on the treatment of rare diseases.
The fund, which will operate as an independent investment vehicle while maintaining a strategic connection with the Chiesi Group, has been formed in collaboration with life sciences focused venture capital firm A.M Pappas & Associates.
Chiesi Ventures will be based in the US and Italy and will focus on investment opportunities across America and Europe.
Chiesi Ventures aims to expand the company’s network in the US across universities, venture capital investors, rare disease patient organisations and entrepreneurial companies developing specialised treatments.
The fund will invest between $4-5m into seed to series A rounds.
“We have taken a strategic approach in launching our fund and decided to work with an established venture fund with proven experience and a solid investment track record in building companies that are developing therapies for orphan and rare diseases,” said Dr.Alberto Chiesi, president of the Chiesi Group. “We are impressed by A. M. Pappas & Associates’ life science and venture expertise and the specific commitment that the firm has made to the area of rare diseases and, therefore, have selected them to help us manage our fund. Further, the launch of a venture fund specifically focused on rare diseases shows our continued commitment to patients afflicted by these diseases and our willingness to expand in the US market.”