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Sprint Bioscience är ett läkemedelsbolag med fokus på att utveckla läkemedel mot cancer. Bolaget grundades 2009 av ett entreprenörsdrivet team på fem personer, fyra från svensk läkemedelsindustri med målet att bygga ett läkemedelsbolag med spetskompetens inom preklinisk läkemedelsutveckling. Den gemensamma drivkraften för alla i bolaget är möjligheten att göra skillnad och att utveckla läkemedel som når marknaden, något som präglar all verksamhet. På Sprint Bioscience anser vi att framgången till att effektivt kunna driva projekt är ett nära samarbete och tät interaktion mellan de olika vetenskapliga discipliner som är involverade i arbetet. För att möjliggöra detta har vi valt att investera i intern kompetens. Vi har rekryterat de främsta inom sina gebit och byggt upp de nyckelkompetenser som behövs för preklinisk läkemedelsutveckling. Sprint Bioscience har idag ca 30 anställda där majoriteten arbetar laborativt inom bolagets läkemedelsutvecklingsprojekt.
Investment Strategy
First Venture is a cutting-edge investment company focused on technology, health and sustainability. These megatrends play a crucial role in creating a better world for all of us. At First Venture, we understand the power of digital technology and have recognized that it is a key factor in driving progress in health and sustainability. By investing early in innovative technology companies, we are helping to shape the future landscape in these areas.
Three megatrends
First Venture focuses on technology, health and sustainability. We invest in companies with the potential to create positive change, contribute to sustainable development and improved health. We believe that these three megatrends will continue to impact society and the business world, and want to support companies that can make a real difference.
Focus Area "Valley of Death"
Only 1 in 9 start-ups survive the 'Valley of Death', which may seem scary but shows how difficult it is to convince the market with a new product. All companies fall into this valley and reversing the trend is not an easy but possible task. To make it through the valley, these companies need capital, mainly to develop and grow their teams, but also to increase their sales and marketing resources.
Unlisted and listed
First Venture invests in both unlisted and listed companies. We have extensive experience in both types of companies and are an attractive choice for entrepreneurs seeking funding. As a long-term and active owner, we work closely with our portfolio companies to support them in achieving their goals.
News from our universe
A selection of our active holdings
"First Venture is a long-term and active owner that works closely with the entrepreneurial teams in the portfolio companies."
First Venture's experienced team has worked with investments for many years. The investor team together with First Venture's network of advisors have deep, relevant and broad knowledge in technology, health and sustainability.
“First Venture sees a good opportunity to invest at the bottom of the "Valley of Death" due to less competition and potentially higher value growth.”
In the early stages of any company they experiance negative cash flow before they manage to turn the corner to positive cash flow. This negative cash flow curve is called the"Valley of death" and growth companies at the bottom of the "Valley of Death" can have difficulty obtaining financing and therefore end up in a very vulnerable and exposed position. We at First Venture, on the other hand, see a good opportunity to invest at this stage due to less competition and potentially higher value growth. Therefore, the bottom of the "Valley of death" is First Venture's focus area for investments.
"The 'Valley of Death' is a situation where a company, especially in the technology or innovation sector, faces difficulties in securing sufficient funding during a specific phase of its development. It occurs after research and development when the company needs capital to bring its product to the market.
Only 1 in 9 start-ups survive the "Valley of Death" which may seem daunting but shows how difficult it is to convince the market with a new product. All companies end up in this "downhill slide" and reversing the trend is not an easy, but possible task. To make it through the valley, these companies need capital, mainly to develop and grow their teams, but also to increase their sales and marketing resources.
First Venture invests in technology, health and sustainability, three megatrends that help promote a better future for humanity. In particular, the development of digital technology and digitalization has had a major impact on many industries and is important for developments in health and sustainability. Health is not only medicine and healthcare but also preventive measures such as diet and exercise. Sustainability or Sustaintech, which can be defined as sustainability and quality of life through technology, is a trend that is only increasing in importance and is urgent for humanity. We must act now and there are many early Swedish growth companies with innovative solutions and products.
First Venture invests in both listed and unlisted growth companies in technology, health and sustainability. In the unlisted companies, very active work is often carried out via the board and coaching of the entrepreneurial team to increase the growth rate. A listing of the company should preferably be possible within a three-year period and the entrepreneurial team should be ready to go that way.
Generally, First Venture enters as a minority owner and places great emphasis on the entrepreneurial team being major owners when investing. In the listed companies, First Venture will preferably be active via the nomination committee rather than the board to facilitate active management of the shares in the portfolio companies. However, close contact with the entrepreneurial team is maintained on an ongoing basis. A listing also provides a good opportunity for the companies to apply an acquisition strategy to accelerate growth.
First Venture actively integrates sustainability into all its investments. Each investment and company is individually analyzed from a sustainability perspective to ensure they meet the investment criteria. We believe that companies that are not sustainable cannot grow at the same level and meet capital return requirements in the long run, which can lead to financing and investment problems.
We refere to an analytical model to assess companies' compliance with international ESG guidelines and the UN Global Compact, including the Sustainable Development Goals principles. We take responsibility for the needs of current and future generations and work for the long term. We have high moral standards and good business ethics throughout our operations. We comply with applicable legislation and other regulations as a minimum requirement. Our shared values of openness, honesty and humility permeate our daily work both internally and externally.
First Venture's net asset value per share as of August 31, 2023 was SEK 6.00/share. The discount to the market price was 49.9%. First Venture's return on net asset value for 2023 amounts to -1.1%. The First North All-share Index returned -1.4% during the same period.
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