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T1D Innovations, LLC

United States of America

Last updated 12 May 2020, by Impactyield.

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Fund geography

Global (48)

A severe lack of resources for translational research, which is the work necessary to bring scientific breakthroughs into human clinical testing, is preventing many of the innovations flowing out of academic labs from impacting the lives of patients. In the case of type 1 diabetes (“T1D”), this deficit is particularly pronounced: over $275 million is spent annually on basic research and yet until now there have been no venture funds or venture-creating entities dedicated to the disease. T1D Innovations, LLC (“T1D Innovations”) was formed by the Juvenile Diabetes Research Foundation (JDRF), the world’s largest non-profit supporter of T1D research, and PureTech Ventures, LLC (“PureTech”), a venture creation company, to address this need. This initiative will create and fund high-impact companies that will develop innovative type 1 diabetes-related products with the potential to have a substantial clinical impact on T1D patients. Joslin Diabetes Center and T1D Exchange join PureTech and Anchor Partner JDRF as Special Partners. These foundations will bring their valuable scientific, clinical, and patient engagement capabilities to the collaboration.

T1D Innovations is a vehicle for mission-focused not-for-profits and other strategic and financial investors to work with PureTech, an institutional entrepreneur, to develop solutions for T1D.



Financial description

T1D innovations’ investors invest directly in the mission-focused LLC and receive, in return, an equity stake in the company. This investment is directed toward the company’s venture creation activities, with a focus on funding critical development and commercialization activities for transformational technologies in type 1 diabetes. Investors participate in governance of the LLC, particularly for the purpose of ensuring mission compliance, and will have the opportunity to participate even more deeply in a business or scientific capacity.
As promising individual technologies are identified, they are spun off as separate wholly-owned subsidiaries of the company (“NewCos”) and are structured as C-corporations.

10 years

of track record

2013

the year funded

10,000,000 USD

AUM

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Asset manager

SDG goals

SDG targets

Achieve universal health coverage

Key performance indicators

Fund overview

Asset manager: T1D Innovations

Product track record: Fund has 10 years of track record

Target IRR: 30%

Committed Capital: 6,900,000 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: ,

Inception year: 2013

Vintage year: n.a.

Target region:

Target close date: 01/12/2014

Product term: 5 years

Assets under management: 10,000,000 USD (US Dollar)

Investment size: Min: 0; Max: 0; Avg: 1,000,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 0

Fund investments to date exited or repaid: 0

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: No

Limited Partners / Investors: JDRF $5 Million commitment

Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors

Contact

E-mail: n.a.

Website: http://t1dinnovations.com/

Phone number: 6174822333.00

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David Steinberg

Partner

James Mutamba

Associate

Impact Performance

n.a.

Impact thesis

The scope of the initiative is broad, comprising any vaccine, therapeutic, device, mobile or electronic application, screening tool, diagnostic or combination thereof that has the potential to cure, treat or prevent T1D or its complications and thereby generate a substantial clinical impact on T1D patients. T1D Innovations plans to focus its venture creation efforts on two to three areas within this scope that it identifies as having the most fertile technological landscapes.

Impact Management

n.a.

Financial benchmark

Term Description:

Keywords