Corporate VC seeks to make early stage investments in life sciences and medtech startups
Esco Group, a Singapore-based life sciences tools and medical devices manufacturer, announced the establishment of Esco Ventures, a strategic investment arm of the Group, focused on early stage investments in life sciences and medical device startups with innovative technologies.
Esco Group has a unique track record of consistent (mainly organic) value creation in the 20+% CAGR range over a 10+ year period, driven by the ability to identify and enter attractive market segments globally, without the benefit of a large domestic market. In the span of less than 15 years, the Group transformed from a regional supplier to the electronics manufacturing industries in Southeast Asia into a global manufacturer of life science lab equipment tools, pharmaceutical equipment and IVF medical devices, with sales of proprietary products in over 100 countries, and a network of subsidiaries across the US, Europe (UK, Italy, Denmark), Asia-Pacific (China, Japan, India, Singapore and major ASEAN countries), Middle East & Africa. The US, EU and China consistently rank as the Group's top 3 markets (Singapore accounts for single digit percentage revenues).
Esco Ventures differentiates itself from the typical venture capital firm by adding operational value in any combination of the following areas -- mentoring, productization, manufacturing and/or global distribution -- by leveraging on the capabilities of the Group. Furthermore, Esco Ventures benefits from the unique entrepreneurial experience of the founders of the Group, who have a track record of handson experience in small company / startup environments having successfully developed and commercialized multiple product lines for the global life sciences tools market.
"We know that investments in the life sciences and medical technology industries do not pay off overnight,"
said XiangQian (XQ) Lin, Founder and Managing Partner of Esco Ventures, a young Singaporean entrepreneur himself at the age of 30.
"We simply enjoy what we have been doing all these years -- help take innovations to the global market, to make our world healthier, safer and better."
Esco Ventures is also actively seeking to give back to the Singapore community by mentoring talented scientists, engineers and researchers (even before startups are incorporated), in recognition that the best value creation for all stakeholders comes from being able to combine scientific, engineering and clinical skill sets with strategic business acumen to tackle -- in a unique way -- a problem or need.
"Singapore has invested billions in biomedical research," said Lin, "we believe in the Government's vision to make Singapore the biomedical innovation hub of Asia, and are confident that by working with all stakeholders, the next big Asian life sciences / medtech hit can come from our shores. As a small country – with the rise of China and India in Asia – home-grown innovation has to be a primary strategy to ensure the continued success of our city-state in the 21st century.”
The Fund already has an investment in a Danish/Lithuanian Medical devices company, in which 5X (unrealized) value (from the original investment) was achieved in less than 3 years, with the company achieving FDA 510(K) clearance on a flagship product, revenues and profitability. While Singapore will be an initial focus for new investments, Esco Ventures is also exploring opportunities in Israel, Japan and other geographies.
Esco Ventures is actively seeking proposals from interested parties and partners of any nature or form, from talented individuals looking for a position in the next up-and-coming life sciences/medtech VC firm, scientists, researchers, engineers and clinicians with the next big idea, startups looking for funding, and others. Interested parties are invited to contact XQ Lin directly at xq.lin@escoglobal.com.