Database/Helix Bio Opportunities
VCF002 · Vintage 2020Open

Helix Bio Opportunities

Helix Life Sciences

Late-stage therapeutics with platform potential — oncology, immunology, and metabolic disease. Co-investment alongside strategic pharma.

Venture CapitalSeries B — TherapeuticsUSEuropeArticle 8
Performance · since vintage

Net TVPI multiple

1.71x
+2.3pp vs benchmark
QuarterNet IRRNet TVPINet DPI
2022 Q110.7%1.48x0.11x
2022 Q28.0%1.46x0.14x
2022 Q320.6%1.48x0.16x
2022 Q415.2%1.52x0.19x
2023 Q120.6%1.53x0.22x
2023 Q214.4%1.73x0.24x
2023 Q317.8%1.68x0.27x
2023 Q415.8%1.70x0.29x

Terms

Target fund size£600m
Current AUM£540m
Min ticket£10m
Max ticket£75m
Target net IRR20–25%
Lock-up10 years
Management fee2.25%
Carry / performance25%
BenchmarkCambridge Associates Healthcare VC
ESG / SFDRArticle 8
Liquidity

Closed-ended; in-kind distributions of public stock on IPO milestones.

Investment highlights

  • 2 IPOs in 2024
  • Partnered with 3 top-20 pharma on milestone deals

Top 5 holdings

Largest positions · % of fund · simulated
  • Praxis Logistics12.3%
  • Parallax Fintech12.0%
  • Lumen AI11.7%
  • Foundry Semis7.0%
  • Tessera Genomics6.2%