Oklahoma Life Science Fund

Background

Founded in 2000, the Oklahoma Life Science Fund (OLSF) is an early-stage venture capital firm based in Tulsa, Oklahoma. The fund is dedicated to investing in promising healthcare and life science companies, with a particular focus on therapeutics, medical devices, diagnostics, and tech-enabled services within Oklahoma and the surrounding region. OLSF aims to bridge the funding gap for early-stage life science startups, providing both capital and strategic guidance to foster innovation and economic development in the state's life sciences sector.

Key Strategic Focus

OLSF's strategic focus encompasses:

Investment in Early-Stage Life Science Companies: Targeting startups in therapeutics, medical devices, diagnostics, and tech-enabled services.

Regional Emphasis: Prioritizing investments within Oklahoma and neighboring areas to stimulate local economic growth.

Comprehensive Support: Beyond financial investment, OLSF actively engages with portfolio companies to shape strategy, ensure adequate capitalization, and drive execution.

Financials and Funding

Since its inception, OLSF has managed two funds totaling $15 million. The first fund invested in five startups, creating over 100 jobs with average salaries three times the state average. These companies attracted over $210 million in additional venture capital. The second fund continued this success, investing in five promising startups that secured over $74.3 million in outside venture capital.

Pipeline Development

OLSF's portfolio includes companies at various stages of development:

SendaRide: Invested in June 2024; operates in the automotive sector, focusing on healthcare-related transportation services.

Cadenza Bio: Invested in December 2023; a biotechnology firm in pre-clinical trials.

ZERO.health: Invested in April 2023; provides clinic and outpatient services, currently generating revenue.

Myri Health: Invested in April 2022; operates in healthcare technology systems, generating revenue.

Sway Medical: Invested in March 2022; specializes in healthcare technology systems, generating revenue.

Technological Platform and Innovation

OLSF's portfolio companies leverage innovative technologies and methodologies:

CareATC: Developed a proprietary population health technology platform to enhance primary care delivery and reduce healthcare costs.

AliveCor: Pioneered mobile electrocardiogram (EKG) technology, enabling users to monitor heart health via mobile devices.

Leadership Team

Dr. William Paiva: Managing Partner. Brings extensive experience from management consulting, large pharmaceutical companies, and venture capital. Under his leadership, OLSF has become a significant driver of venture capital in Oklahoma.

Sean Templemore-Finlayson: Vice President. Plays a key role in investment decisions and portfolio management.

Competitor Profile

Market Insights and Dynamics

Oklahoma's life sciences sector is experiencing significant growth, with nearly 600 bio-related establishments and annual bioscience-related R&D expenditures totaling $316 million. The industry employs approximately 74,884 individuals, with a 10% growth since 2015.

Competitor Analysis

Key competitors in the region include:

Cortado Ventures: Focuses on early-stage investments across various sectors, including healthcare and life sciences.

Plains Ventures: Invests in technology and life science companies, providing capital and strategic support.

Atento Capital: Engages in venture capital investments with a focus on innovation-driven companies.

Strategic Collaborations and Partnerships

OLSF collaborates with various organizations to strengthen its market position:

Omega Capital: Partnered in the recapitalization of CareATC, enhancing its growth and technological capabilities.

Life Science Oklahoma: Engages with this industry association to promote and support the state's life sciences sector.

Operational Insights

OLSF's strategic considerations include:

Local Investment Focus: By concentrating on Oklahoma and surrounding regions, OLSF leverages local resources and networks to support portfolio companies.