Glenn Rockman and Jenny Yip are the leaders of Adjuvant Capital, an investment firm focused on public health. In February 2021, the firm announced a $300 million venture capital fund. The reason for raising this large amount is because the world is in great need of medical technologies and supplies and Adjuvant Capital wants to ensure those resources are accessible. The fund specifically works toward underprivileged and developing countries to ensure that those who would not otherwise have access to certain medical advances are getting the care they need. Multiple investors have pledged money to this fund, including the Gates Foundation, pledging $75 million to the venture capital fund.
The Venture Capital Industry
The venture capital industry has long since been overlooking new technologies in the medical field but Adjuvant Capital looks to change this in order to get the necessary medical resources to the people that need them. By investing in various companies, increased production will arise for new medical technologies that can help prevent or manage medical issues, from rare diseases to global pandemics. Many of the Adjuvant Capital investors are also contributing scientific advice and research as well as financial aid in order to cultivate the growth of wide-reaching medical resources.
The co-founders of Adjuvant Capital, Kabeer Aziz and Charlie Petty, have been global health investors in the past. Partners Rockman and Yip also have investment backgrounds, with Rockman being a former member of the Global Health Investment Fund. It is clear to see that these backgrounds have had a lot of influence over the firm’s current venture fund and can be seen further as Yip used to be a part of the Gate’s Foundation’s strategic investments group. The Gate’s Foundation is responsible for about 25% of the venture capital fund.
Although based in the United States, Adjuvant Capital commits to the most promising technologies globally, with investments in Nigeria, Bangladesh and China, among others. Recent financings include Beijing-based Yisheng Biopharma, which looks to resolve critical supply issues in the rabies vaccine market.
Medical innovations have been overlooked by investors for a long time, which is why this venture capital fund exists. Mark Suzman, CEO of the Bill and Melinda Gates Foundation, is quoted saying “there is an important role for investment capital to play in stimulating innovation and making markets work for the poor so that everyone has the chance to live a healthy, productive life.”
The investment into these innovations will not only help the underprivileged but it will create an effect that reaches everyone and promotes public health as well as growth. Among others, investors in the fund also include the Children’s Investment Fund Foundation, the Ford Foundation and the International Finance Corporation (IFC).
The Road Ahead
Adjuvant Capital’s investment fund could possibly produce life-changing healthcare solutions that have the potential to create significant global social impact. Adjuvant Capital is committed to ensure global access to healthcare and health equity worldwide. The ultimate goal is to bring quality healthcare to all by creating affordable, effective solutions that everyone has access to, regardless of income, region or socioeconomic status.
– Grace Aprahamian