MENLO PARK, Calif., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Menlo Ventures announced today that Greg Yap is joining the firm as a partner to lead investments in novel health, medical and life science technologies.
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“Biotech is entering a new era, and Greg will bring domain expertise to Menlo at a time when many of the most important discoveries will be made at the intersection of biology and computer science,” said Menlo partner Mark Siegel. “Advances in machine learning, AI and big data analysis are enabling new business models and markets and have the potential to impact human health in ways we can scarcely imagine. We think a multidisciplinary approach is crucial, and we are excited to welcome Greg,” he added.
Yap joins Menlo with more than 20 years of experience building and investing in cutting-edge healthcare industry businesses and technologies. Most recently, he was an entrepreneur-in-residence at Illumina Ventures, where he focused on new genomics investments and was co-founder and CEO of PyrAmes, a stealth mode digital health company. Previously, he was CEO and co-founder of Biodesy, a protein analysis company. He has also held senior roles at Roche/Ventana, where he led their $500 million cancer assay business, and Affymetrix, where he led their genetics and molecular diagnostics businesses.
Menlo plans to invest 15 percent of Menlo XIV, a $450 million fund, in early stage companies aiming at breakthrough improvements in the life sciences sector and related areas. This new strategy builds on several recent investments in the sector, including Synthego, Cofactor Genomics, Clear Labs and Recursion Pharmaceuticals. Although Menlo’s recent investment strategies have centered on consumer and enterprise technologies, the firm has a long history in biotechnology, including the incubation of Gilead Sciences.
“I’ve always been passionate about improving healthcare through new technologies, and I’m excited to join Menlo to continue to back iconic entrepreneurs with this shared mission,” Yap said. “Applications like personalized medicines, genomics, synthetic biology, and digital health represent huge market opportunities. We believe we can help our companies with the challenges of commercializing products and building businesses that truly make a difference.”
Menlo’s investment team consists of five partners: Mark Siegel, Venky Ganesan, Matt Murphy, Shawn Carolan, and Greg Yap, along with investment professionals Tyler Sosin, Steve Sloane, Jayni Shah, and Croom Beatty. Menlo’s portfolio services program, FUEL, consists of Talent Partner Jordan Ormont, Marketing Director Jenny Saling, and Kayla Hinderscheid, Head of Network Development. FUEL is a go-to-market acceleration program encompassing sales, marketing and business and talent development.
Menlo's history of successful investing includes the funding of more than 440 companies with an aggregate market value exceeding $250 billion. In the last five years alone, Menlo's 33 exits have a combined market value of $5.4 billion. Menlo is currently investing in Menlo XIV, a $450 million early-stage fund, and the $250 million Menlo Special Opportunity Fund, aimed at early growth investing.
About Menlo Ventures
Menlo Ventures provides capital for multi-stage consumer and enterprise technology companies. Since 1976, the firm's market-driven analysis has led to the identification of opportunities and successful investments in innovative technology markets. Notable areas of investment include Marketplaces (Uber, Rover.com, Breather, RealtyShares, Getaround), Consumer Services (Machine Zone, Tumblr, Betterment, Poshmark, Mealpal, Roku, Siri), Smart Cloud Infrastructure (Dropcam, 3Par, Avi Networks, Avere Systems, Ero), SaaS (Carbonite, Signifyd, Clarifai, Overops, Usermind), Fintech (Betterment, Bluevine, Homelight, RealtyShares) and Cybersecurity (Cavium, IronPort, BitSight, vArmour, Dedrone). Menlo's portfolio includes more than 70 public companies and more than 100 mergers and acquisitions. Menlo Ventures has $5 billion under management and is currently investing Menlo Ventures XIV, a $450 million fund with $15 million allocated to the Menlo Talent Fund for fast seed funding, and the Menlo Opportunity Fund, a $250 million fund that solely targets early growth investments. For more information, visit www.menlovc.com.
Contact: Jennifer Jones