New Leaf Venture Partners

What New Leaf Venture Partners does

New Leaf Venture Partners (NLVP) is a healthcare-focused venture capital firm founded in 2005 as a spinout of the Sprout Group's healthcare technology investing team. The firm invests exclusively in healthcare technology companies across three verticals: biopharmaceuticals (novel therapies targeting validated biomarkers for serious diseases), information convergence (digital health, healthcare IT, AI-enabled platforms), and life science tools (research tools, diagnostics, and personalized medicine enablers). NLVP deploys early to late-stage equity capital into portfolio companies including BrightInsight, Cleerly, Flosonics Medical, Abcuro, Edgewise Therapeutics, Arvinas, Electra Therapeutics, and Star Therapeutics, among 150+ companies historically. The firm is headquartered in New York City with a lean team of 1-10 employees structured as a partnership led by managing directors Ron Hunt, Vijay Lathi, James Niedel, Liam Ratcliffe, and CFO/COO Craig Slutzkin.

The firm's revenue model follows standard venture capital economics: management fees (typically 1.5-2% of committed capital) charged to limited partners, plus carried interest (typically 20% of profits above a hurdle) on successful exits. Capital is raised from institutional LPs and deployed as equity into portfolio companies, with returns realized through acquisitions, IPOs, and secondary transactions. NLVP reports $2.0+ billion invested across its combined New Leaf and Sprout Group healthcare portfolios, with historical outcomes of 44 portfolio acquisitions, 54 IPOs, and 30 companies reaching $1B+ valuation.

Go-to-market is relationship-driven rather than product-driven: deal sourcing relies on direct networking, healthcare industry conferences, and warm introductions from existing portfolio founders and executives. Marketing presence is minimal, limited to a company website, an X/Twitter account, and an LP login portal. The firm does not distribute products or services in the conventional sense; capital distribution to LPs occurs exclusively through exits of portfolio companies.

Name

New Leaf Venture Partners

Legal name

New Leaf Venture Partners

Website

http://www.nlvpartners.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

New Leaf Venture Partners is a New York-based healthcare-focused venture capital firm investing across biopharmaceuticals, digital health, and life science tools, with over $2 billion deployed across 150+ portfolio companies since its 2005 founding.

Ownership category

akta.pro rank

Product category

Healthcare Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

• Venture capital
• Healthcare investments
• Biopharmaceuticals
• Digital health
• Life sciences

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Returns: New Leaf Venture Partners generates returns through equity investments in portfolio companies. The firm takes equity stakes in early-stage and growth-stage healthcare technology companies and realizes returns through acquisitions, IPOs, and secondary transactions. Historical track record includes 44 acquisitions and 54 companies taken public.
2. Fund Management: VC firms typically charge management fees (usually 1.5-2% of committed capital) and carried interest (typically 20% of profits above the hurdle rate) from institutional investors and limited partners.

Go-to-market motion1 record

Marketing channels4 records

Core offering

New Leaf Venture Partners is a healthcare-focused venture capital firm that raises capital from limited partners and deploys it as equity investments into early-to-late-stage healthcare technology companies. The firm invests across three verticals — biopharmaceuticals, information convergence (healthcare IT/digital health), and life science tools — and supports portfolio companies with strategic guidance, industry expertise, and network access to enable exits through acquisitions or IPOs.

Product overview

New Leaf Venture Partners is a venture capital firm exclusively focused on healthcare technology investments. The firm operates across three investment verticals: Biopharmaceuticals (novel therapeutic development), Information Convergence (digital health and healthcare IT), and Life Science Tools (research and diagnostic technologies). NLVP does not offer a unified platform or product suite; rather, it provides investment capital and partnership to early and late-stage healthcare companies. The firm's portfolio spans companies like BrightInsight (digital health infrastructure), TigerConnect (healthcare communication), Cleerly (AI cardiovascular imaging), Edgewise Therapeutics (muscular dystrophy treatments), and over 150 total portfolio companies across its investment history.

Differentiator

Problem solved

Functional benefit

Products and services

• Biopharmaceuticals Investment Portfolio Equity investments in biopharmaceutical companies developing novel therapies addressing important unmet medical needs, including treatments tailored to specific patient populations based on validated biomarkers or genetics. Examples in the portfolio include Electra Therapeutics, Star Therapeutics, Abcuro, and Edgewise Therapeutics.
• Information Convergence Investment Portfolio Equity investments in healthcare IT, digital health platforms, AI-powered diagnostics, and data analytics companies that increase quality and efficiency in healthcare. Examples in the portfolio include BrightInsight, Cleerly, TigerConnect, Kyruus, Bluesight, and Kalderos.
• Life Science Tools Investment Portfolio Equity investments in companies developing research tools, diagnostics, and technologies that accelerate drug discovery, uncover novel insights into disease biology, and personalize diagnoses and treatment.

Quantifiable outcome

• 44 acquisitions of portfolio companies
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• OrbiMed Advisors: One of the largest healthcare-dedicated investment firms globally, investing across biopharma, medtech, and digital health stages comparable to NLVP's three verticals. Most direct comparable by sector focus and stage breadth.
• Atlas Venture: Early-stage life sciences venture firm building biotech companies from inception; overlaps directly with NLVP's biopharmaceuticals and life science tools focus, particularly at seed/Series A stages.
• Versant Ventures: Healthcare-focused VC investing across biopharma, medtech, and digital health across stages; very comparable in mandate, fund size, and portfolio construction to NLVP.
• Frazier Healthcare Partners: Dedicated healthcare VC with public-private crossover strategies and a long history (since 1991); comparable to NLVP in vertical specialization and stage range across biopharma and healthcare services.
• 5AM Ventures: Early-stage life sciences and biopharma venture firm; highly comparable to NLVP's biopharmaceuticals and life science tools verticals with similar check sizes and company-building approach.
• Longitude Capital: Healthcare-focused growth equity and venture firm investing across biopharma, medtech, and digital health; comparable stage range and vertical focus to NLVP.
• Domain Associates: Healthcare-only venture firm investing across biopharmaceuticals, medical devices, and digital health; directly comparable vertical specialist with similar vintage heritage.

Broad incumbents

• Bain Capital Life Sciences: Multi-billion-dollar life sciences platform within Bain Capital; broader in scale and parent backing than NLVP, but directly competes for similar biopharma and digital health deals.
• Novo Holdings (Novo Ventures): Healthcare and life sciences investment arm of the Novo Nordisk Foundation; operates at significantly larger scale than NLVP but with comparable sector specialization in biopharma and digital health.
• RA Capital Management: Crossover fund heavily focused on healthcare and biotech with public-private investment capabilities; competes for the same biopharma deals as NLVP but with deeper capital and public-market reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nlvpartners
• LinkedInlinkedin.com/company/new-leaf-venture-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments203 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Leaf Venture Partners