Forentis Partners, LLC has announced that Forentis Fund, a $50 million special purpose venture fund focused on biotechnology and precision medicine, has received its first institutional investment commitment. The fund has received a commitment letter from Single Oak Ventures for $5 million.
“This is a great start for our fund,” stated Jay Goth, managing member. “I have worked with the principals of Single Oak in the past and their confidence in us is highly appreciated.”
“The approach that Forentis is taking is very appealing,” said Ralph Williams, founding partner at Single Oak. “They have taken a true hands-on approach to working with the companies they plan to invest in, and in discussions with Forentis and their target companies we come away with a high degree of appreciation for all of the work that they have done so far and see that they have great opportunities ahead.”
Forentis Fund is dedicated to bridging the gap between biotechnology innovations and suffering patients. By funding the companies that are building an ecosystem of biological discovery, advanced predictive analytics and rapid commercialization processes that can effectively reduce the time to bring solutions to market and the price associated with them, the fund becomes the financial catalyst for critical medical innovation.
The commitment from Single Oak is subject to the completion of its current funding round and traditional due diligence which has begun. The two firms anticipate closing the transaction this summer.
About Single Oak Ventures
Single Oak Ventures is a fund focused on bridging the gap between higher risk, network dependent angel investing and the high minimum, large funds typically associated with traditional venture capital firms. Single Oak is managed by an experienced team of industry leaders with extensive backgrounds in venture capital, finance, securities law, sales, marketing and executive management. Single Oak Ventures is one of a new generation of funds which provides access to top companies and industry veterans while employing a uniquely diversified investment strategy. Their Three Strategy-One Fund approach to investing allows for a diversified asset allocation within the fund and provides the opportunity to take an opportunistic approach to investing across a wide array of technologies.