Hercules vet launches a new life sciences lender with $400M to put into play
A longtime veteran of the life sciences lending world has just launched a new operation with an initial $400 million to lend out to the industry.
Parag Shah — who helmed the life sciences team at Hercules for more than 10 years, lending out more than $2 billion — is leading the new group at K2 HealthVentures. According to his LinkedIn profile, Shah started K2HV late last year with backing from L1 Health in the lead up to today’s announcement.
Their mission is to provide debt and equity to private and public biotech companies, a booming field with a big appetite for cash of all kinds. And in this case, they’re touting their experience in the business, acting as advisors as well as lenders.
“We believe that for growing companies to reach the next level, they need patient financial support, proven business expertise, and a funding partner that understands value and risk in this specialized space,” Shah said in a statement. “K2HV embodies these principles. And like the companies with which we hope to partner, we are driven by both profit and purpose.”