Yale University Sponsors Investment Forum For Representatives of Taipei Venture Capital Association
Yale University will host the Taipei Venture Capital Association (TVCA) at an Investment Forum May 4-5 at the Omni Hotel and Conference Center, 155 Temple St. The TVCA includes more than 15 Taiwanese venture capital firms that have earmarked $50-$100 million for investment in U.S. biotechnology companies. The Yale Office of Cooperative Research (OCR) and the China Partners Group of Hartford are coordinating the association’s visit to New Haven during its tour of the Northeastern United States.
“Two years ago, a group of biotech investors like the TVCA would simply have passed through New Haven on its way from New York to Boston,” said Greg Gardiner, OCR director. “Today, we have given them a reason to stop and take a look at some very exciting investment opportunities.”
In addition to representatives from venture capital firms, the TVCA delegation will include members of the Taiwanese government’s Task Force on Biotechnology, which is responsible for investing more than $1.5 billion in biotechnology firms, both at home and abroad.
Seven biotechnology companies located in the New Haven area, including Genaissance and Protein Sciences, will give closed presentations to the TVCA delegation on Monday, May 4. The following day, the delegation will visit several local biotech firms, including Vion Pharmaceuticals, Alexion, Neurogen and Packard Biosciences. Representatives from each of the presenting and hosting companies, as well as from the U.S. venture capital community, will be invited to a TVCA-sponsored banquet on Monday night.
The China Partners Group (CPG) is a private consulting firm that specializes in venture capital investments in the biotechnology industry. The group provides a variety of services aimed at facilitating timely and well-informed biotech investment decisions. CPG has developed strong relationships with the governments of Hong Kong and China, and initiated the first venture forum in Taiwan in collaboration with the Taiwanese government. Its principals have more than 20 years of investment experience and have been involved in financing some of the largest U.S. biotechnology companies.
Yale’s Office of Cooperative Research (OCR), which was formed in 1982, is responsible for promoting the commercial development of Yale discoveries. In recent years, Yale has become a national leader in technology transfer and expects to earn nearly $40 million this year alone from its scientific discoveries.
The OCR recently announced the formation of four new biotechnology companies located in New Haven and anticipates forming three or four more venture-capital companies this year. They will join nine public and more than 35 private companies based on Yale’s scientific discoveries, which employ about 750 people. Many of the companies remain in the New Haven area, bolstering the local economy.