Very interesting article

https://www.copyright link/street-talk/under-the-microscope-new-biotech-fund-pitches-80m-raising-20200903-p55s2e

Sep 3, 2020 – 9.32pm

Sarah Thompson, Anthony Macdonald and Tim Boyd

Street Talk Under the microscope! New biotech fund pitches $80m raising

This next fund manager will be hoping investor interest in a coronavirus vaccine spills into other stocks in the biotechnology sector.

Street Talk understands a new Melbourne-based money manager, Horizon 3 Biotech, has launched a fundraising for its first fund, which will take positions in up to eight biotech stocks.Sources told this column Horizon 3 was in front of high net worth individuals, family offices and institutions in recent weeks in a bid to raise as much as $80 million for the fund.
Horizon 3 told potential investors it had secured a $10 million cornerstone investor in the fundraising round, Chinese biotech investor Jian Sun, who was also one of the fund's directors.Sun is the founder of Huikang Bio-Tech and has invested more than $100 million in a biotechnology industrial park in China, according to a slide deck that's landed in front of potential investors.
The fund planned to make about eight investments of up to $10 million each and in its pitch, it said it had already conducted due diligence on 40 stocks.It would primarily focus on Australian companies but had a global mandate and investment decisions would be made by chief investment officer, Matt McNamara.Prior to joining Horizon 3, McNamara was the CIO at healthcare investment firm Bioscience Managers for 14 years, where he managed four funds with more than $200 million under management.
Potential investors were told the fund would charge a 20 per cent performance fee over an 8 per cent a year return hurdle. Management fees of 2 per cent of net asset value would also be charged annually.