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Tenmile is a venture capital firm based in Australia, founded in 2022 with a focus on the health sector. The firm is backed by Tattarang, a prominent investment group led by Andrew and Nicola Forrest, who are among Australia's wealthiest investors. Tenmile aims to connect promising health technology ideas with the necessary capital and partnerships to facilitate their development and commercialization.
With an initial capital allocation of A$250 million, Tenmile is dedicated to uplifting the Australian healthtech ecosystem. The firm operates with an evergreen structure, allowing for long-term investments without the typical constraints of a closed-end fund. This flexibility enables Tenmile to support innovative health solutions that can significantly impact human health.
Tenmile's headquarters is located in Perth, Western Australia, with additional team members based in Sydney and San Francisco, reflecting a global investment outlook. The firm has quickly built a portfolio of 11 companies, focusing on early-stage investments in the biotech and medtech sectors.
Tenmile invests primarily in early-stage health technology companies, particularly within the biotech and medtech sectors. Their investment strategy emphasizes clinical impact and commercial success, addressing urgent health needs while building scalable companies. The firm seeks to support innovations that can lead to significant advancements in human health.
The geographic focus is global, with a strong emphasis on the Australian healthtech ecosystem. Tenmile's check sizes typically start at A$7.5 million, allowing them to make substantial investments in promising startups. The firm looks for founders who demonstrate a clear vision and commitment to addressing pressing health challenges through innovative solutions.
Tenmile's investment criteria include a strong emphasis on clinical impact, scalability, and the potential for commercial success. They prefer to collaborate with companies that are developing technologies aimed at improving health outcomes, particularly in areas such as immunology, oncology, and digital health.
Tenmile's portfolio includes 11 notable companies, each focused on innovative health solutions:
This diverse portfolio reflects Tenmile's commitment to supporting companies that address urgent health needs and contribute to the advancement of human health.
Dr. Joey Man - Investment Associate: Dr. Man has a background in healthcare technology and investment, contributing to Tenmile's focus on clinical impact.
Kelsee Sewell - Operations Lead: Sewell oversees operational aspects of Tenmile, ensuring efficient processes within the firm.
John Hartman - Director: Hartman brings extensive experience in venture capital and healthcare, guiding Tenmile's investment strategy.
Aizaz Syed - Investment & Portfolio Manager: Syed manages portfolio companies, providing strategic guidance and support to founders.
Dr. Liz Dallimore - Investment Committee Member: Dr. Dallimore contributes her expertise in health technology to Tenmile's investment decisions.
To pitch to Tenmile, founders should use the contact form available on their website at https://www.tenmile.com/contact-us/contact-us. It is recommended to include a detailed pitch deck that outlines the business model, market opportunity, and clinical impact of the technology.
Founders should expect a response time of approximately 2-4 weeks after submission. Warm introductions are preferred but not mandatory. Clear communication of the startup's vision and potential impact on health outcomes is crucial for capturing Tenmile's interest.
In March 2023, Tenmile made a cornerstone investment of A$7.5 million in Carina Biotech, which is developing CAR-T therapies for colorectal cancer. This investment highlights Tenmile's commitment to supporting innovative health solutions.
Additionally, Tenmile has been actively building its portfolio, which now includes over 11 companies focused on health technology. Their investments span various sectors, including biotech and digital health, reflecting a diverse approach to addressing urgent health needs.
What are Tenmile's investment criteria?
Tenmile focuses on early-stage health technology companies in the biotech and medtech sectors. They emphasize clinical impact, scalability, and commercial success in their investment decisions.
How can I pitch to Tenmile?
Founders can reach out through Tenmile's contact page at https://www.tenmile.com/contact-us/contact-us. It is advisable to include a clear business plan and details on how the technology addresses urgent health needs.
What makes Tenmile different from other investors?
Tenmile operates with an evergreen fund structure, allowing for long-term investments without the pressure of a typical fund lifecycle. This enables them to support innovative health solutions over extended periods.
What is the geographic scope of Tenmile's investments?
While Tenmile is based in Australia, they have a global investment mandate, seeking breakthrough health companies from around the world.
What is Tenmile's typical check size?
Tenmile typically invests starting at A$7.5 million, allowing them to make significant contributions to their portfolio companies.
What kind of support does Tenmile provide to portfolio companies?
Tenmile offers not only capital but also strategic guidance and access to a network of industry experts and partners to help portfolio companies succeed.
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