US headquartered venture secondary investor Omega Funds has acquired a portfolio of nine life sciences companies from Lombard Odier, a Swiss private bank.
The companies, based in the US and Europe, are part of a series of direct secondary deals Omega has completed recently, in total acquiring 25 businesses for over US$125m.
Otello Stampacchia, an advisor for Omega Funds, said: “We have seen a substantial increase in the supply of healthcare-related portfolios on the market. Secondary deals are becoming a more established route to liquidity for private equity and venture capital investors. We believe these types of transactions are particularly well-suited to healthcare companies – both public and private – as they have a long product development life cycle and high capital intensity that can result in some pressure on traditional venture capital funds.”
Omega was founded in 2004 and manages five funds, all dedicated to making direct secondary transactions in the healthcare space, with a specific focus on venture capital and growth equity.
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