Kurma Partners, Idinvest's investment manager in the health sector, is experimenting with a new investment model
The idea is to syndicate with industry partners from the get-go, bringing them in at a pre-seed stage, prior to forming the company, to provide expertise that matches the newco's technology. Moreover, it should allow Kurma to compete for seed or series A stage assets with the bigger players. According to managing partner Vanessa Malier, the new approach is unique among French life science investors and makes it possible for a small firm like Kurma to create new companies without tying up a large percentage of its capital in seed investments. The firm's industry partners for these investments include Boehringer Ingelheim GmbH and Ionis Pharmaceuticals Inc. Kurma's target is to split its capital 40-60 between newcos and standard venture investments, with a goal of creating one to two new companies each year. While it makes investments all over Europe and occasionally in the U.S., Kurma is focusing the new platform in France.