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The New Leaf Ventures (NLV) team has been built over a decade, originating within Sprout Group, the venture capital affiliate of Credit Suisse First Boston. Sprout Group was formed in 1969 and has historically been one of the leading venture capital firms in the country. NLV is a leading healthcare technology investor, managing over $2 billion in funds, and investments in over 150 companies. The firm focuses on 3 sectors: biopharmaceuticals, medical devices, and diagnostic/infrastructure technologies. In 2005, the entire healthcare technology team of Sprout spun out into NLV. This team continues to manage the healthcare technology portfolio of the Sprout funds, and in 2005, the team closed on its first directly-managed fund, New Leaf Ventures I, LP, a $310 million healthcare technology-dedicated fund. New Leaf Ventures I focuses on taking leadership positions in financings of later stage biopharmaceuticals; medical devices, generally at early stages; and molecular diagnostics and laboratory infrastructure at a variety of stages including PIPES transactions. NLV prefers to invest in later stage biopharmaceutical products, early stage medical devices, and a variety of stages in molecular diagnostics and laboratory infrastructure technologies. Within biopharmaceuticals, the firm seeks to invest in drug development, clinical trial design, and pharmaceutical markets. In 2007, the team closed on its second fund, New Leaf Ventures II, L.P., a fund also dedicated to healthcare technology, which was capitalized with $450 million of limited partner commitments.
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