STAT+: Despite biotech slump, veterans of SVB and KKR launch investment firm

Two of the top health care investors at the investment bank SVB Securities and the private equity giant KKR are starting a new biotech investment firm called Enavate Sciences.

Enavate launched Monday with $300 million from Patient Square Capital, a private equity firm started in 2020 by Jim Momtazee, who had helped start the health care investing team at Kohlberg Kravis Roberts & Co. in the early 2000s. Enavate plans to raise an additional $200 million to $300 million this year from family offices and wealthy individual investors, according to its chief executive, James Boylan.

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