ON THE COMPANY
Lumira Capital is a North America-based healthcare investment firm that makes investments across the venture capital continuum (early to later stage) in innovation centric companies developing innovative products, therapies and technologies in the biotechnology, diagnostics, medtech and digital health sectors. The firm is the largest healthcare venture firm based in Canada – one of the top three regions globally for medical innovation – and the firm is also an active investor in the U.S.
The company is currently investing from a $165M pool of capital raised in 2012, whose investors include pension funds, funds-of-funds, a sovereign investment fund, the founder of a successful portfolio company, family offices, and the global pharmaceutical firm Merck & Co. (selected as one of four life sciences funds globally to have received such a commitment). Lumira was also one of only four “high performing” funds in Canada to receive a capital commitment directly via the Canadian government’s Venture Capital Action Plan.
ON COMPANY STRATEGY
Lumira Capital employs a consistent, proven four-part investment strategy that aims to generate superior returns: First, the company exploits market inefficiencies as a lead investor-of-influence in order to invest at attractive valuations, often by focusing on geographies rich in innovative companies, but where there is limited local venture capital competition. Second, the firm maximizes the exit value of its companies by targeting sectors that are acquisition priorities of multiple acquirers and that have favourable regulatory, market growth and reimbursement dynamics. Third, the company leverages unique access and insights from its strategic LP, Merck, and often co-invests with the corporate venture arms of leading pharmaceutical and medical technology firms (historically companies with strategic co-investors have produced return multiples 1-2x higher than companies without them).
Finally, Lumira Capital provides investors with accelerated liquidity and lower loss ratios, by investing at value/risk inflection points in a company’s lifecycle, such as after products have already demonstrated proof-of-concept in human clinical studies, and in many cases, early commercial success.
ON WHY TORONTO MATTERS
Lumira Capital is the largest healthcare venture firm based in Canada – one of the top three regions globally for medical innovation. The healthcare sector is growing at four times GDP and two times the IT sector. The current VC investment environment is characterized by a marked reduction in competition and, at the same time, enhanced opportunities for high value liquidity as a function of both a buoyant IPO market for private biotech companies and enhanced M&A exit opportunities as a plethora of cash-rich large life science companies de-emphasize internal R&D in favour of acquisition-based growth. This environment creates an opportunity for experienced investors to generate out-sized returns.
With over 27 years of investment, operational, managerial and research experience in the healthcare industry, Mr. Rovinski has helped build life sciences companies at all stages of development. He is known both as a senior scientist and an achievement-oriented executive, with success in strategic planning, drug development, and operational management of global multifunctional teams.
LUMIRA CAPITAL QUICK FACTS
#1 performing biotech IPO since 2000
#1 performing medical device IPO since 2004
Achieved highest valued acquisition of a pre-revenue biotech company in industry history ($11B) Kai Therapeutics. Received CVCA 2013 for “VC Deal of the Year”
141 Adelaide Street West
Toronto, ON M5H 3L5
T: (647) 435-9370