AAA Sprim helps spirit $50m to healthcare fund

Sprim helps spirit $50m to healthcare fund

Healthcare technology services provider Sprim launched a Singapore-based venture capital initiative yesterday in partnership with asset management firm Tikehau Capital with $50m of capital.

Sprim’s participation in the fund, dubbed TKS1, will be conducted by its local corporate venturing unit, Sprim Ventures. The $50m figure represents its initial close.

TKS1 will provide between $500,000 and $5m for early-stage life science and medical technology developers, and has already made investments in five portfolio companies.

The companies in question include infant milk and supplement provider Babynostics, algorithm-based diagnostics technology developer Fibronostics and ObvioHealth, the creator of a mobile app-based clinical trial platform, all of which are headquartered in Singapore.

Evid Science, a US-based company applying artificial intelligence to the clinical data sector, and Travecta Therapeutics, a Singapore-based developer of small molecules that can deliver medicines to the brain, complete the fund’s initial portfolio.

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