Biotech  Healthcare No.1 Investment LP

Committed Capital :
2,970 million yen (Approximately $27 million)

legal Status:
A Japanese limited partnership established under the Limited Partnership Act for Venture Capital Investment of Japan.

list of Partner:

<< General Partner - bhp

<< Limited Partner - Industries

• Japan Tobacco Inc.
• Kyorin Pharmaceutical Co., Ltd.
• Mochida Pharmaceutical Co., Ltd.
• Dainippon Sumitomo Pharma Co., Ltd.
• Tokai Medical Products, Inc.

<< Limited Partner - Financials

• New Business Investment Co., Ltd.
• Shinko Investment Co., Ltd.
• Tokyo Small and Medium Business Investment & Consultation
• Orix Capital Corporation
• Yasuda Enterprise Development Co., Ltd.

Partnership Duration: From January 26, 2001 to December 31, 2010

Objective :

The primary objective of BHILP No.1 is to bring to start up companies the capital, skill sets and experience needed to prosper in the fast-growing Japanese and Japanese-related overseas biotechnology and healthcare sectors. BHILP No.1 is also to aim at achieving superior capital appreciation through equity or equity-related investment in focused portfolio companies in these sectors. Additionally limited partners may also gain a window opportunity to get access to up-dating sector knowledge and network.

Strength :

In Japan it is widely perceived that bhp has wide access to the sector knowledge within Japanese biotechnology and pharmaceutical industry and research institution. So bhp can identify technological seeds for business and bring to a start up company the capital, skill sets and experience needed to get foundation for its further development.

<< Investment Guideline :

1. Investment Area : Mainly in Japan. Additionally overseas investment based on the Japanese technology. ( Max 50% of committed capital)
2. Investment size : Max 10% of committed capital for accumulated investment per company.
3. Investment stage : Primarily at the pre-seed, the seed and the early stage.
4. Ownership ratio : No particular limitation.
5. Sector : the biotechnology and healthcare sector.
6. Management right : Aiming at securing a right to obtain one board seat of an portfolio company. Otherwise structuring an alternative way to pursue management involvement.
7. Management Member : Being pro-actively involved in putting adequate human resource in place.
8. Exit Strategy : Mainly targeting divestment through IPO and secondly sale to a strategic buyer.
9. Investment horizon : 4 to 9 years for each company.
10. Re-Investment : Being prohibited