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The Dementia Discovery Fund (DDF) is a venture capital fund managed by SV Health Investors, founded in 2015. The fund is headquartered in London and Boston, focusing exclusively on investing in companies that develop or enable novel therapeutics for dementia, including Alzheimer's Disease. DDF has successfully raised over $600 million for its investment strategy, aiming to deliver measurable impact while generating financial returns.
Since its inception, DDF has built a portfolio of 20 companies, with a strong emphasis on early-stage biotech firms. The fund's approach is characterized by a commitment to interrogating novel hypotheses and expanding the breadth of targets and mechanisms in dementia therapy development. Notable milestones include the acquisition of Caraway Therapeutics by Merck, showcasing DDF's ability to identify and support promising ventures in the healthcare sector.
DDF invests across the full spectrum of company and asset stages, specifically targeting innovative projects informed by cutting-edge science that can significantly impact dementia patients. The fund's investment strategy encompasses pre-seed, seed, seed-plus, and Series A stages, allowing for flexibility in supporting early-stage projects starting from target identification.
The fund's mandate includes interrogating novel hypotheses and expanding the breadth of targets and mechanisms in development for dementia therapies. DDF exclusively invests in novel disease-modifying therapeutics for all forms of dementia, ensuring that it backs companies with deep scientific differentiation. This focus on early-stage biotech enhances the potential for success in the competitive landscape of dementia therapeutics, supported by a robust network of pharmaceutical partners for collaborations and follow-on investments.
DDF's portfolio includes a range of companies actively working on innovative solutions for dementia. Notable companies include:
This diverse portfolio reflects DDF's commitment to supporting companies that are at the forefront of dementia research and therapeutic development.
Miles Gerson - Partner at DDF, previously served as Head of Takeda Ventures, bringing extensive experience in biotech investments and strategic partnerships.
Kate Bingham - Managing Partner at SV Health Investors, known for her leadership in biotech investments and her role in advancing healthcare innovation.
Jonathan Behr - Partner at DDF, with a background in venture capital and a focus on healthcare investments.
Laurence Barker - Partner at DDF, specializing in early-stage biotech investments and strategic development.
Christian Jung - Partner at DDF, bringing expertise in scientific evaluation and investment strategy.
Tetsuyuki Maruyama PhD - Chief Scientific Officer at DDF, formerly a Senior Vice President at Takeda, with a strong background in drug development and scientific research.
Entrepreneurs interested in pitching to DDF should submit their proposals via email. The pitch deck should include a clear overview of the project, the scientific rationale, and the potential impact on dementia therapeutics. DDF values concise and informative presentations that highlight the team's expertise and the project's unique value proposition.
Response times may vary, but founders can expect timely feedback on their submissions. DDF encourages warm introductions where possible, as this can facilitate a more favorable review process.
In May 2025, DDF announced the final close of its second fund, DDF-2, raising $269 million to continue its focus on dementia therapeutics. This fund aims to invest in 10-15 portfolio companies across the UK, Europe, and the US.
In September 2025, DDF led a GBP 50M Series B investment in NRG Therapeutics, further solidifying its commitment to supporting innovative companies in the dementia space.
DDF has been recognized as a key player in the venture capital landscape, particularly in the biotech sector, and has been featured by various industry publications, including FierceBiotech and the British Business Bank.
What are DDF's investment criteria?
DDF exclusively invests in companies developing novel therapeutics for dementia, including Alzheimer's Disease. The fund targets early-stage projects across pre-seed, seed, seed-plus, and Series A stages, focusing on innovative solutions informed by cutting-edge science.
How can entrepreneurs apply for investment?
Entrepreneurs seeking investment from DDF are encouraged to contact the fund via email. The fund's registered office is located at 71 Kingsway, London, WC2B 6ST.
What makes DDF different from other venture capital firms?
DDF's unique focus on dementia therapeutics sets it apart from other venture capital firms. The fund leverages a strong network of pharmaceutical partners for strategic collaborations and follow-on investments, enhancing the potential for success of its portfolio companies.
What is DDF's geographic scope?
DDF has a global investment approach, with a particular focus on North America and Europe. This geographic diversity allows the fund to tap into a wide range of innovative projects and partnerships.
What is the fund size and check size range?
DDF has raised over $600 million across its funds, with specific check sizes varying based on the stage of investment and the needs of the portfolio companies. The fund's strategy allows for flexibility in supporting early-stage ventures.
What kind of post-investment involvement does DDF have?
DDF provides strategic support to its portfolio companies, leveraging its extensive network of pharmaceutical partners for collaborations and follow-on investments. The fund's focus on early-stage biotech ensures that it backs companies with deep scientific differentiation, enhancing their potential for success.
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