Phase4 Ventures spins out from Nomura and partners with HarbourVest Partners to acquire a portfolio of investments

Phase4 Ventures, the Life Science venture capital business of Nomura, has been acquired by its management team, and a significant portion of its assets under management have been sold to funds managed by HarbourVest Partners LLC.

Dr Denise Pollard-Knight, Managing Partner of Phase4 Ventures, commented: “We are delighted to have HarbourVest as our new partner as we move forward as an independent venture capital firm with the team that built this business for the past decade from within Nomura. This transaction achieves the objectives of all the parties involved, allows us to continue supporting our portfolio companies whilst also providing us with a new platform to further develop our business in Europe and the US.”

HarbourVest was selected following a competitive process in which various options to capture the value of the venture capital business and its associated assets were considered. Phase4 Ventures will manage the new fund, Phase4 Ventures III LP, for HarbourVest, and an existing fund for Nomura. The company and its eight-strong team, led by Dr Denise Pollard-Knight, continues to be based in London.

Since 1999 the Phase4 Ventures team has made more than 30 investments in mid-to-late stage life science companies alongside other top tier venture capital firms in both the US and Europe, typically investing $15-30 million per company over the course of the investment. The new fund, Phase4 Ventures III LP, includes: Albireo Pharma and Nabriva Therapeutics, spin-outs from Novartis/Sandoz and Astra Zeneca respectively; Chroma Therapeutics in the UK; and Oncomed Pharmaceuticals and Paratek Pharmaceuticals in the US. Significant follow-on capital is available to support and further accelerate the growth of portfolio companies over the next few years.

Valérie Handal, Principal at HarbourVest commented:  “HarbourVest has built an expertise in assisting high quality general partners achieve their independence, and we are very pleased to have enabled this to become a reality for Phase4 through this transaction. We are excited to continue working with the team to further support the mature portfolio of strong companies that we have acquired.”

Tarun Jotwani, CEO EMEA, Nomura, said: “It was always intended that Phase4 Ventures would develop as an independent business, allowing it to further grow its platform.  We will maintain a strong relationship with the team and are pleased to continue working with the company.”