Sphera Global Healthcare Fund

What Sphera Global Healthcare Fund does

Sphera Global Healthcare Fund is a sub-strategy within Sphera Funds Management Ltd., an Israeli hedge fund manager founded in 2004 and headquartered in Tel Aviv. The Global Healthcare Fund, launched in 2007, runs a long/short equity strategy focused on global pharmaceutical and biotechnology companies, supported by a team of scientists, licensed physicians, and investment professionals organized by therapeutic category. Sphera's broader platform has expanded to seven distinct funds — six long/short equity strategies covering Israeli equities (Master, Value), Israeli fixed income (Bond), technology (Tech), and global healthcare (Healthcare, Biotech), plus one private equity real estate vehicle (Park-In) — collectively employing over 20 professionals.

Sphera distributes its funds through a direct, senior-led institutional sales motion targeting top pension funds, insurers, financial institutions, family offices, and high-net-worth individuals globally, with a US-domiciled LP entity (Sphera Global Healthcare Management LP) supporting North American access. Revenue is generated through recurring management fees on assets under management and performance-based incentive fees, consistent with the hedge fund 2-and-20 model; the firm discloses neither AUM, fund-level performance, nor revenue. The competitive differentiator is its scientifically-trained investment team and a 20+ year operational track record that positions it as Israel's longest-running hedge fund manager.

Ownership remains private and closely held by co-founders Doron Breen and Ron Senator (both Managing Partners) alongside additional partners. Recent strategic activity has emphasized product diversification (Bond Fund, 2025; Park-In, 2021), senior leadership expansion (multiple Managing Partners added in 2025), and geographic reach (US LP entity). Co-founder Israel Mor passed away in 2023, and the CEO role transitioned out of Amir Levi's tenure (2022-2024) back to founder-led governance.

Name

Sphera Global Healthcare Fund

Legal name

Sphera Funds Management Ltd.

Website

http://www.spherafund.com/sphera_global_healthcare_fund.html

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Sphera Global Healthcare Fund is an Israel-based long/short equity fund focused on global pharmaceutical and biotechnology companies, run by a team of scientists, physicians, and investment professionals organized by therapeutic category, serving institutional investors and HNWIs globally.

Ownership category

akta.pro rank

Product category

Hedge Fund Management

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Hedge fund management
• Long short equity
• Biotech investments
• Pharma equities
• Alternative investments

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: Hedge funds typically charge management fees on assets under management. Sphera manages long/short equity strategies and real estate private equity with a diverse investor base.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Sphera Global Healthcare Fund is a long/short equity fund managed by Sphera Funds Management Ltd., focusing exclusively on global pharmaceutical and biotechnology sectors. Investments are selected based on comprehensive scientific research conducted by a multidisciplinary team of scientists, doctors, and investment experts organized by therapeutic category to deliver risk-adjusted returns. The fund is offered to qualified institutional investors and high-net-worth individuals as part of Sphera's broader family of seven distinct investment strategies.

Product overview

Sphera Funds Management offers a portfolio of seven distinct investment funds spanning long/short equity strategies and private equity. The core offering includes six long/short equity funds covering different market segments: SPHERA MASTER FUND (flagship fund, 2004) for large/mid-cap Israeli and Israeli-related companies; SPHERA VALUE FUND (2011) for second/third-tier Tel Aviv Stock Exchange companies; SPHERA BOND FUND (2025) for Israeli bond markets; SPHERA TECH FUND for global and Israeli-related technology stocks; SPHERA GLOBAL HEALTHCARE FUND (2007) for global pharma and biotech; and SPHERA BIOTECH FUND (2018) for innovative small/mid-cap biotech companies. Additionally, SPHERA PARK-IN (2021) is a private equity real estate fund focused on parking lots in Israel's central district. All funds apply a disciplined, fundamental, research-driven investment approach managed by teams of investment professionals based in Tel Aviv.

Differentiator

Problem solved

Functional benefit

Brands

• Sphera Master Fund: Long/short equity fund founded in 2004, focusing on large and mid-cap Israeli and Israeli-related companies on Tel Aviv 125 index and Nasdaq.
• Sphera Value Fund
• Sphera Bond Fund
• Sphera Tech Fund
• Sphera Global Healthcare Fund
• Sphera Biotech Fund
• Sphera Park-In

Products and services

• Sphera Master Fund Long/short equity fund focusing on large and mid-cap Israeli and Israeli-related companies on the Tel Aviv 125 index and Nasdaq, aiming to generate consistent risk-adjusted returns for qualified investors.
• Sphera Value Fund Long/short equity fund focused on investments in equities of companies traded on second and third-tier indices of the Tel Aviv Stock Exchange, targeting undervalued companies with limited institutional coverage.
• Sphera Bond Fund Long/short hedge fund focused on Israeli bond markets, utilizing fundamental analysis to identify market inefficiencies and provide superior risk-adjusted returns through investments in publicly traded company bonds.
• Sphera Tech Fund Long/short equity strategy dedicated to investing in global and Israeli-related publicly-traded technology stocks, covering software, semiconductors, and internet sectors, aiming to produce long-term risk-adjusted returns.
• Sphera Global Healthcare Fund Long/short equity fund focused on global pharmaceutical and biotechnology sectors, with investments based on comprehensive scientific research conducted by teams of scientists, doctors, and investment experts organized by therapeutic category.
• Sphera Biotech Fund Fund focusing on highly innovative small and mid-cap companies in the global biotechnology sector, using comprehensive scientific research by teams organized by therapeutic category to detect disruptive technologies at an early stage.
• Sphera Park-In Israel's first and only private equity fund focused solely on the parking real estate sector, purchasing and operating parking lots in Israel's central district to generate returns through acquisition and operational enhancement.

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Amir Levi (Advisor)minorOthers · 1 January 2024Amir Levi serves as an Advisor to Sphera. He previously served as CEO of Sphera from 2022 to 2024 and currently serves as Chairman of Egged. He brings extensive experience including Director of Budget Department at Ministry of Finance and CEO of Shikun & Binui Energy.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Perceptive Advisors: Healthcare-focused long/short and life sciences credit manager with scientists and clinicians on staff. Direct peer given parallel long-biased approach to small/mid-cap biotech and willingness to underwrite clinical risk.
• Baker Bros. Advisors: One of the largest dedicated healthcare/biotech long-short hedge funds globally, founded by Julian and Felix Baker with MD/PhD-led research teams. Direct peer to the Sphera Global Healthcare Fund given shared biotech focus, scientific talent base, and long-short equity approach targeting public pharma/biotech names.
• OrbiMed: Healthcare-dedicated investment firm spanning public equities, private equity, and venture capital with deep scientific bench. Comparable to Sphera's healthcare/biotech fund family given shared sector specialization and therapeutic-area-organized research teams.
• Samsara BioCapital: Biotech-focused long-only and crossover public-equity investor founded by Srini Akkaraju with a PhD-led research team. Direct peer to Sphera Biotech Fund given the focus on innovative small/mid-cap global biotechnology companies via scientific due diligence.
• RA Capital Management: Healthcare-focused long/short public equity and crossover private investor with a deep team of MDs/PhDs organizing coverage by therapeutic area. Direct peer given the same scientific research-driven underwriting approach applied to global pharma and biotech equities.

Broad incumbents

• Millennium Management: Global multi-strategy hedge fund platform managing tens of billions across pods covering all major sectors including healthcare. Broader incumbent benchmark for Sphera's multi-strategy long/short platform given scale, institutional reach, and diversified sector pods.
• Point72 Asset Management: Large multi-strategy hedge fund with dedicated sector specialists including healthcare analysts, founded by Steven Cohen. Broader incumbent benchmark for Sphera's institutional fundraising model and healthcare-specialist long/short approach.

Emerging players

• Sectoral Asset Management: Healthcare-specialist long/short public-equity manager with a clinician-heavy research team covering global pharma. Comparable to Sphera Global Healthcare Fund given the therapeutic-area-organized coverage model and biotech-heavy focus.
• Eventide Asset Management: US-based values-aligned asset manager offering a Healthcare & Life Sciences fund focused on innovative biotech and medical device companies. Comparable thematic overlap with Sphera Global Healthcare Fund but structured as a long-only mutual fund vehicle.

Regional players

• Alpha Trust Fund: Israeli-originated hedge fund/asset manager listed on the Tel Aviv Stock Exchange and one of Sphera senior analyst Dr. Amit Drach's prior employers. Comparable regional peer given shared Israeli institutional LP base and parallel long/short equity approach to public equities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sphera-global-healthcare-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments32 records

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

Frequently asked questions about Sphera Global Healthcare Fund