Est. 2015 by SV Health Investors. Two funds: DDF-1 (£250m, 2018), DDF-2 ($269m, May 2025). Total AUM >$600m. 22-person team (6 partners incl. Behr, Jung, Barker). Portfolio: Alector, Therini Bio, Montara Therapeutics, Cerevance, Amphista. Impact: 50+ programmes, 3 exits incl. Caraway (Merck $610m). Mission: disease-modifying therapies for Alzheimer's, FTD, ALS. Transatlantic: London/Boston HQ.
Investment Thesis
Exclusive dementia therapeutics focus. Invests from target ID through clinical dev. Portfolio: 44 investments, 36+ active cos incl. Therini Bio, Montara, Alector (NASDAQ exit). Stages: Seed-Series E, avg £42.9m Series A. Geography: US/UK/Europe. Check sizes £1-10m typical. Differentiators: half portfolio self-built, 2000+ patients in clinical trials, pharma-backed (Biogen, Lilly, Pfizer, GSK, J&J, Takeda). Avoids: amyloid-only bets, non-disease-modifying approaches.
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