NEW YORK – Founded in 1998, Psilos Group Partners L.L.C. invests in early- to pre-IPO health-care, digital media and Internet companies, focusing on businesses that combine these fields.
Some 80% of Psilos Group Partners L.P. I, which closed on $100 million in July 1998, already is invested or committed. Psilos, at press time, had backed 17 portfolio companies across the United States. The firm often is the lead investor in its deals and typically invests between $3 and $5 million in each company.
The firm expects to begin raising its second fund sometime at the beginning of next year, but neither the precise timing nor the target amount has been decided.
The firm’s limited partners include Chase Capital Partners and Kohlberg Kravis Roberts & Co., while Bear Stearns/Constellation Ventures is a member of Psilos’ advisory board and a collaborative investment partner. Toronto Dominion Capital, a venture arm of Toronto Dominion Bank, is a side-by-side fund that co-invests with Psilos.
Albert Waxman, Samuel Bain, Jr. and Stephen Krupa are the founders and principals of the firm. As a group, they have invested $11 million of their own money in Psilos’ first fund.
The firm is guided by an advisory board composed of health-care industry executives, investment bankers and partners of larger private equity funds.
Select Psilos Group Partners portfolio companies follow:
ARTISTdirect L.L.C. and The Ultimate Band List L.L.C. (Encino, Calif.) connect musicians and global consumers over the Internet.
Co-investors include Constellation Ventures and Chase Capital Ventures.
Cinebase Software Inc. (Los Angeles) is a provider of media management solutions for the production, post-production, advertising, government, broadcast and cable industries.
Constellation Ventures and Wasserstein Adelson Ventures were co-investors.
Comprehensive NeuroScience Inc. (White Plains, N.Y.) is a clinical trial site management organization specializing in central nervous system disorders.
Co-investors include Radius Medical Ventures and CHL Medical Ventures.
Health Hero Network Inc. (Mountain View, Calif.) develops a product that gives health-care professionals access to real-time patient data and lets them use protocol management tools so patients can communicate with care managers.
Oracle Strategic Partners is a co-investor.
PSICON New York TeleMedia Accelerator (New York) incubates young Silicon Alley companies that develop digital media. Constellation Ventures and the New York City Investment Fund are co-investors.
Psilos Group Partners is located at Carnegie Hill Tower, 152 West 57th Street, 33rd Floor, New York, NY 10019, tel. (212) 399-2070, fax. (212) 399-2081.