Tikehau Capital, Sprim join forces with new S'pore-based life sciences VC fund

Singapore

LIFE science startups hoping for a big break can now look to a new Singapore-based cash cow for funding.

European asset manager Tikehau Capital and Sprim Ventures, the venture arm of global healthcare consultancy Sprim, have teamed up to launch a venture capital (VC) fund for early-stage investments.

The committed capital for the fund, dubbed TKS1, is US$50 million as at its initial closing. About 70 per cent came from the two firms, and the rest from third-party investors.

Tikehau and Sprim are aiming for two more closings, which would bring TKS1 to as much as US$75 million by the second-hal…