Credit Suisse has announced a strategic partnership with Israel-based health tech and life sciences specialist investment platform aMoon.
Through the partnership, Credit Suisse and Credit Suisse Asset Management will have the opportunity to present eligible Credit Suisse clients and institutional investors outside the United States and Canada exclusive access to $250m of investments into the aMoon II venture capital fund.
This strategic venture follows the provisional closing of aMoon II at $200m from private investors in Israel on April 1, the company said in a statement announcing the deal.
AMoon II is investing in mid- to late-stage health tech companies and is oriented towards closing a gap for underfunded, undervalued companies in global hubs with strong health tech ecosystems in Israel, the United States and Europe. The fund’s three areas of focus are digital health, medical devices and biopharma.
“We are thrilled by the vote of confidence that Credit Suisse’s strategic partnership represents, and by the tremendous impact it will have in our relentless pursuit to accelerate cure,” said Dr. Yair Schindel, co-founder & managing partner of aMoon.
“This strategic partnership is perfectly timed to leverage the growing convergence of technology and healthcare. Breakthrough scientific research, innovative technology, and decades of digital health records make Israel an ideal launchpad for leading this global transformation in healthcare.
“This will generate deep value for our investors and positively impact the lives of millions of patients.”
Michel Degen, CEO of Credit Suisse Asset Management Switzerland and EMEA, said that it is “critical” that disruptive businesses, which are committed to resolving some of the healthcare sector’s most pressing issues, receive access to venture capital and the liquidity they need.
Credit Suisse added that health tech is “an important part” of the company’s defined long-term house view investment themes and Credit Suisse Asset Management believes it provides an “attractive” investment opportunity in the current market environment.
Credit Suisse Asset Management will continue with its own investment solutions to access this fast-growing field via the recent launch of its digital health investment strategy.