HBM Healthcare Investments

HBM Healthcare Investments AG specializes in fund of funds and direct investments in middle market and mature companies. It invests across startup, early, mid, and late venture, and late-stage private companies, unlisted emerging companies, small-cap public companies, buyouts, growth capital, and private investments in public equities (PIPES). Within fund of funds, it invests in venture capital funds. The fund also finances spin-offs of product lines or departments from larger corporations, as well as the expansion or restructuring of established companies. It focuses on private and public healthcare companies, particularly in human medicine, drugs, pharma, biopharma, biotechnology, diagnostics, and medical technology. Initial investments target companies whose primary products are in clinical development or the immediately preceding stage. The fund invests globally, with a focus on Asia Pacific, Asia, North America, and Europe. For public companies, it focuses on those originating from its private portfolio, and it increases investments through follow-on financing or after an IPO. It may acquire majority participations, usually takes a board seat, and primarily makes equity investments, though it may also use convertible bonds, debt securities, structured products, and derivatives. Exits are through trade sale or IPO.