TVM Capital Life Science

About TVM Capital Life Science

TVM Capital Life Science is an independent transatlantic life-science venture capital firm tracing its origins to Techno Venture Management, founded in 1983 in Munich, and refocused exclusively on life sciences in 2012. It is headquartered in Munich, Germany, with a second office in Montreal, Canada. The firm is structured around managing-partner-led limited partnership fund vehicles, with a strategic anchor relationship with Eli Lilly and Company. Assets under management are roughly €900 million. The firm operates a multi-generation fund family spanning the historical TVM Life Science Ventures funds and the rebranded TVM Life Science Innovation series, with TVM Life Science Innovation II closing at USD 478 million in October 2020. TVM has made more than 120 life-science investments and over 90 exits over its history.

Investment thesis

TVM Capital Life Science pursues a dual-pronged life-science venture strategy. Roughly half of fund capital backs early-stage project-focused companies, single-asset majority-owned vehicles developing early drug candidates, leveraging the Eli Lilly partnership for development support. The remainder targets de-risked commercial- or late-clinical-stage assets in medtech, diagnostics, digital health and late-stage therapeutics with defined exit paths. Geography is global, spanning Europe and North America. The limited partner base is institutional and international, including Eli Lilly, other strategic investors, pension funds, endowments, foundations, fund-of-funds, wealth managers and family offices. Value creation comes from hands-on board engagement, deep therapeutic and medtech development expertise, and structured single-asset development paths designed for clear trade-sale or IPO exits.

Recent activity

Recent investments span medtech and medical-device portfolio companies including diagnostics and digital health, alongside early-stage therapeutics vehicles. Recent exits include CoLucid Pharmaceuticals in biopharmaceuticals (2017) and Aurka Pharma in therapeutics (2018), with a long-run track record including more than 40 IPOs across major US and European exchanges. The platform continues to deploy across European and North American life sciences through its project-focused and late-stage strategies. Detailed buyer names and multiple data available on Pro at €29/month.