Rosetta Capital Limited

Transaction  Structured partial acquisition of selected assets from listed investment fund

Stage  Venture (life sciences)

Geography  Sweden

Background

Rosetta is a dedicated life science investor founded in 2001. The team manages four life science portfolios totalling $170 million.
Rosetta’s challenge

Karolinska Development is a listed fund that commercialises the life science technology originating from Sweden’s renowned Karolinska Institute. In the adverse climate prevailing in the public markets it was unable to raise the necessary follow-on capital to develop its portfolio. Rosetta identified the opportunity to invest in an attractive and diversified portfolio of early-stage life science companies and provide this follow-on capital, but faced the same challenge as Karolinska – how to raise the capital?

Bluetower’s solution

With its understanding of the private equity secondary market Bluetower worked with Rosetta to develop an innovative investment structure that married the risk/return profile of institutional investors with the requirements of an early-stage life science fund manager. Rosetta was able to raise a fund on attractive terms that had sufficient commitments to also meet the portfolio’s follow-on capital requirements.