NeoSci raises $54.7M first close for its debut biotech venture fund
What's the deal? NeoSci Ventures (NSV) has raised US$51.3M (around $54.7 million) in the first close of its inaugural institutional venture fund, the Singapore-, Taiwan- and US-based firm said on November 3. It plans to back up to 12 biotech companies globally.
Who's backing it? Limited partners include Singapore's EDBI, Taiwan's National Development Fund, Taiwan-listed Catcher Technology, and Singapore property group Crescendas Group, alongside family offices and entrepreneurs.
What's the endgame? NSV operates as a venture builder, not a conventional VC firm. It identifies promising science, assembles scientific and management teams, and provides operational support to build companies from scratch — sometimes taking founder, board, or executive roles early on.
The fund will target emerging therapies and technologies worldwide, with opportunities in oncology, autoimmune diseases, and metabolic diseases. It has already invested in two companies.
"Turning great science into successful companies requires more than just capital," said founding managing partner Daphne Teo. "We want to bring together the right scientific and management teams, then create companies and invest in them."
Why now? Co-founders Teo and founding chief scientist Dr Timothy Lu say they have invested in biotech for 15 years, co-founding more than 30 companies, including 10 that reached public listings or acquisition exits. They point to renewed momentum in biotech IPOs and M&A as a reason to enter the market now.
Teo added that LPs are increasingly open to biotech, despite the sector's reputation for long research and clinical trial timelines. Many investors can reach exits through M&A, licensing deals, or IPOs before Phase 3 trials or commercialisation.
What could go wrong? Drug development remains unpredictable. "You can do everything right, but at the end of the day, if the science was wrong from the beginning, it doesn't work out," Lu said. He argues that early involvement in portfolio companies helps NSV manage its risk capital more effectively.
The signal: NSV's raise adds a dedicated local biotech investor to Singapore's life-sciences financing push, where government-backed co-investment expanded in 2026 and international investors have been building a presence. With a much larger Asia-focused biotech fund also reported this year, competition for capital and deal flow is intensifying — though one specialist fund alone does not prove a sector-wide rebound.
Read more: businesstimes.com.sg
Image credit: Generated with Gemini
