Tattarang launches $250m dedicated health technology investment business
Summary
The company will focus on investing in products and solutions addressing unmet medical needs that support sustainable and equitable healthcare. With evergreen seed and expansion capital that does not have the constraints of typical closed-end funds, and the breadth and depth of Tattarangs international relationships, Tenmile is uniquely positioned to support founders and teams throughout their journey.Tattarang Chairman Dr Andrew Forrest AO said Tenmile was different to other venture capital funds operating in Australia because it was solely dedicated to health technology and can act fast and with confidence, without obligations to investors and lending providers.Our laser-focused approach means we can help early-stage companies, researchers and entrepreneurs tap into seed funding to help them when they need it most, and then provide follow-on support, which is often unavailable through government or public sector funds, Dr Forrest said.Tenmile will help Australian researchers and Australian companies, through our extensive knowledge, global networks and dedicated capital to deliver life-changing products and medical treatments in a way that this country has not seen before.Although Tenmile is focused on opportunities in Australia and on building the broader health sciences commercialisation ecosystem here, we will continue to invest and partner in international markets both for the returns and to support our Australian investees to access markets and capital internationally, Dr Burnell said.The company, which will be headquartered in Perth, with team members in Sydney and San Francisco, will have a global outlook. It has already partnered with San Francisco-based Rock Health and is a partner in its latest digital health fund.Tenmile is named after a permanent and reliable pool of clean water on the Ashburton River, in Western Australia, which has supported people and wildlife for millennia: an appropriate name for a new organisation that will support Australias most innovative entrepreneurs and impactful health ideas with reliable capital.