Ysios Capital is a leading Spanish independent venture capital firm that provides private equity financing to early- and mid-stage human healthcare and life science companies. We target the entire healthcare and biotechnology industry, with a special focus on pharmaceuticals, diagnostics and medical devices.
Founded in 2008, Ysios Capital has € 191,4 million in assets under management through its two funds: Ysios BioFund I (€65 M) and Ysios BioFund II Innvierte (€ 126M).
Our team includes experienced professionals with extensive complementary expertise in investing and building healthcare and biotechnology companies. Ysios Capital has access to a broad global network within academia, finance and industry. We take an active role in the development of our portfolio companies as a lead investor or as an active syndicate partner.
Ysios Capital is registered at Spanish Securities and Exchange Commission (CNMV). Its main office is in Barcelona.
- Area of Activity
- Venture capital
- Venture capital management company
- Company type
- Investors - Venture Capital
Ysios’s investment strategy allows for investments in early stage companies looking for first round funding through later-stage or pharmaceutical spin-off companies. Our investments target companies that focus on product development in the biotechnology, emerging pharmaceuticals, healthcare and medical technology sectors.
Ysios Capital has a clearly defined investment strategy: we focus on investing in human healthcare innovation projects in and outside of Spain. We aim to balance risk and liquidity against the stage of investment, from seed capital to pre-IPO-investing, in various subsectors with different time-to-market horizons, capital needs and risk-to-return ratios.
Ysios Capital investments range from €1 million to €7 million, including additional capital for follow-on investments. For investments in Spain, we typically act as the lead investor, structuring the transaction and always syndicating with other venture capital firms. In major financing operations, especially in those circumstances where we can leverage our global network, we seek to invest in international syndicates with other dedicated life sciences and healthcare investors that share our vision and commitment to investing in and supporting companies.
While we acknowledge that a management team is seldom complete, we like to invest in a cohesive management team with a proven track record, including relevant business experience and top-notch scientific know-how. If a company’s management team needs additional members, it is important that the founding or existing members acknowledge this fact and demonstrate the flexibility and willingness to accommodate new members.
We invest almost exclusively in product development projects; we rarely invest in services. Products in clinical or preclinical development should have an attractive market potential or, if a niche indication is targeted, its potential market share should be significant and realistic. Ideally, we like to invest in companies that have a platform technology capable of generating new product candidates on a sustainable basis with a competitive advantage.
The business plan should clearly outline the principal milestones to be achieved in 2 to 3 years (e.g. product development milestones, additions to the management team, licensing or collaborative agreements, new financing rounds). Such milestones should be realistic.
Strong entry barriers
Intellectual property is an important asset of biotech and pharmaceutical companies. The business plan should outline the key aspects of the company’s IP position and, if applicable, any known, required, third party IP should be listed. Ideally, the company should have freedom to operate.
We seek lead investor roles in first rounds of financing in Spain. In large rounds of financing, we usually take a follower role in syndicates with top-tier biotech venture capital firms, although we occasionally lead deals outside of Spain.
Our team is dedicated to an open and reliable collaborative investment approach following a standardised process for all investment decisions.
01 Initially, we will review the business plan, including detailed information on the company’s scientific/technical platform, product pipeline and differentiation, intellectual property, business model, financials and competitive situation.
02 If we find the proposal promising, we invite the management team to present it to the Ysios’ team.
03 We then expand our initial analysis of the project and discuss it in detail with our investment team. Based on the results of this analysis, we perform comprehensive due diligence and assessment.
If we decide to proceed, we will present a term sheet establishing the terms of investment. We will also require a period of exclusivity while we undertake a rigorous due diligence process covering market research, intellectual property, management, competition, the business model, technology/product assessment, legal aspects and financial due diligence.
At Ysios Capital, confidentiality is important to us, just as it is to the companies that approach us. We strive to ensure that any information provided to us remains strictly confidential.
business plan submission
The best way to introduce your company to Ysios Capital is to send us your business plan, comprising:
· Executive summary
· Detailed overview of the science, technology and/or products
· Description of the market
· Description of the business model and growth strategy
· Competitor analysis
· Review of intellectual property
· Evaluation of potential risks and mitigating factors
· Management and staff
· Investment proposition and use of funds
· Financial statements and projections
· Shareholder structure