The FINANCIAL -- Through the partnership, Credit Suisse and Credit Suisse Asset Management will have the unique opportunity to present eligible Credit Suisse clients and institutional investors outside the United States and Canada exclusive access to USD 250 million of investments into the aMoon II venture capital fund.
This strategic venture was realized following the provisional closing of aMoon II at $200 million from private investors in Israel on April 1, 2018.
aMoon II is investing in mid- to late-stage health tech companies and is oriented towards closing a gap for underfunded, undervalued companies in global hubs with strong health tech ecosystems in Israel, the United States and Europe. The fund’s three areas of focus are digital health, medical devices and biopharma, according to Credit Suisse.
“We are thrilled by the vote of confidence that Credit Suisse’s strategic partnership represents, and by the tremendous impact it will have in our relentless pursuit to accelerate cure,” said Dr. Yair Schindel, Co-Founder & Managing Partner of aMoon. “This strategic partnership is perfectly timed to leverage the growing convergence of technology and healthcare. Breakthrough scientific research, innovative technology, and decades of digital health records make Israel an ideal launchpad for leading this global transformation in healthcare. This will generate deep value for our investors and positively impact the lives of millions of patients.”
Michel Degen, CEO of Credit Suisse Asset Management Switzerland and EMEA, added: “It is critical that, disruptive businesses, which are committed to resolving some of the healthcare sector’s most pressing issues, receive access to venture capital and the liquidity they need. We are therefore delighted to enter into a strategic partnership with aMoon, a leader in health tech and life sciences investing.”
Health tech is an important part of Credit Suisse’s defined long-term house view investment themes and Credit Suisse Asset Management believes it provides an attractive investment opportunity in the current market environment. Credit Suisse Asset Management pursues innovative investment solutions to access this fast-growing field as evidenced recently by a successful launch of its digital health investment strategy.