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UpStart Life Sciences Capital, L.P. is a venture capital firm founded in 2009 and headquartered in Salt Lake City, Utah. The firm focuses on seed and early-stage investments in healthcare companies that leverage breakthrough technologies developed at major research universities, particularly in Utah and neighboring states. UpStart operates with a unique venture studio hybrid model, often co-founding or incubating companies alongside licensing university intellectual property.
As of now, UpStart manages a fund size of $100 million and has a portfolio of 12 companies. The firm emphasizes the creation of value through the formation and management of innovative life science companies, rather than traditional venture capital investments in existing companies. This approach allows UpStart to guide startups from inception to growth, ensuring alignment with market needs and technological advancements.
Notable milestones include the successful co-founding of Sera Prognostics, Inc., which has raised significant follow-on funding. UpStart's strategic focus on university-derived technologies positions it uniquely within the venture capital landscape, allowing it to tap into cutting-edge research and innovation.
UpStart Life Sciences Capital primarily invests in seed and early-stage healthcare opportunities, including sectors such as medical devices, drug delivery systems, diagnostics, and biopharma products and platforms. The firm emphasizes the creation of value through the formation and management of innovative life science companies, rather than traditional venture capital investments in existing companies. This focus on early-stage investments allows UpStart to engage deeply with founders and their technologies from the outset.
Investment checks typically range from pre-seed to growth equity stages, aligning with their strategy to support companies through various phases of development. UpStart's geographic focus is primarily on North America, specifically the United States, with a strong emphasis on leveraging technologies developed at major research universities in Utah and surrounding areas. The firm seeks founders who are not only innovative but also capable of navigating the complexities of the healthcare landscape.
UpStart Life Sciences Capital's portfolio includes a diverse range of companies that exemplify its focus on healthcare innovation. Notable portfolio companies include:
This portfolio reflects UpStart's commitment to supporting innovative healthcare solutions and its strategy of co-founding companies that leverage university research.
Steve Borst - Managing Director. Steve has extensive experience in venture capital and healthcare, having led multiple successful investments in the life sciences sector. His background includes a focus on company formation and management.
Dennis Farrar - Managing Director. Dennis brings a wealth of knowledge in healthcare investments, with a track record of supporting innovative startups in the biotech and medical device fields.
Stephanie Sorensen - Financial Controller. Stephanie oversees financial operations and ensures the firm’s investments are managed effectively, contributing to the overall success of the portfolio.
Mary Campos - Administrative Assistant. Mary supports the team with administrative tasks, facilitating smooth operations within the firm.
To pitch to UpStart Life Sciences Capital, founders should submit their business plans via email to businessplan@upstartvc.com. The pitch deck should include a comprehensive overview of the technology, market analysis, competitive landscape, and team qualifications. UpStart prefers detailed presentations that clearly outline the startup's value proposition and potential for growth.
Response times can vary, but founders should expect to hear back within a few weeks. Warm introductions are beneficial, especially from mutual connections within the healthcare or academic sectors, as they can enhance the likelihood of a favorable review.
UpStart Life Sciences Capital runs a program called UpStart Life Sciences Capital, which focuses on incubating and co-founding healthcare companies based on university-derived technologies. This program is designed to support early-stage ventures by providing access to resources, mentorship, and funding.
Eligibility for participation typically includes having a technology or business model that aligns with UpStart's focus on healthcare innovation. Interested founders can apply through the firm's contact email.
As of 2023, UpStart Life Sciences Capital continues to manage a portfolio of 12 companies, focusing on seed and early-stage investments in healthcare. The firm has not reported any recent press activity, indicating a potential phase of consolidation or slow deployment of capital.
Notably, Sera Prognostics, one of UpStart's portfolio companies, has successfully raised multiple rounds of institutional funding, including a $19.3 million Series A round. This reflects the firm's ability to support its companies through significant growth phases.
What are UpStart Life Sciences Capital's investment criteria?
UpStart primarily invests in seed and early-stage healthcare companies that leverage breakthrough technologies developed at major research universities. They focus on sectors such as medical devices, diagnostics, and biopharma.
How can I apply or pitch to UpStart Life Sciences Capital?
Founders can submit their business plans via email to businessplan@upstartvc.com. It is recommended to include a detailed overview of the technology, market potential, and team background in the pitch.
What makes UpStart Life Sciences Capital different from other venture firms?
UpStart operates as a venture studio, often co-founding companies and managing them from inception. This model allows them to create value through direct involvement in the formation and growth of new ventures.
What is the geographic scope of UpStart's investments?
The firm primarily focuses on North America, particularly the United States, with a strong emphasis on technologies developed at universities in Utah and neighboring states.
What is the typical check size for investments?
UpStart invests at various stages, including pre-seed, seed, and growth equity, with check sizes tailored to the specific needs of the companies they support.
What kind of post-investment involvement does UpStart have?
UpStart actively engages with its portfolio companies, providing operational support, strategic guidance, and access to university resources to help them grow and succeed.
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