Lonza Partners with Prolog Ventures to Establish VC Fund to Invest in Consumer Health and Wellness Startups
Basel, Switzerland, 7 February 2018 – Lonza, one of the world's leading suppliers to the pharmaceutical, biotech and specialty ingredients industries, announced today that it has launched a venture capital fund to back emerging consumer-health companies in North America.
The Prolog Lonza Consumer Fund will focus on products, technologies and innovative business models related to fast-moving consumer goods markets, such as personal care, functional food and beverages, medical food, dietary supplements and home care. The emphasis will be on products that maintain, protect or preserve the health and well-being of people and companion animals around the world through proprietary ingredients, formulations and delivery technologies.
U.S.-based Prolog Ventures has been named the fund's manager for investments in innovative early-stage, fast-growing consumer health and wellness startups in North America.
The newly created fund offers value well beyond financial support by leveraging Lonza's global resources and expertise to accelerate the growth of its portfolio companies. It is expected that the fund will invest annually into two or three startups on average in the mid-single-digit million-dollar range.
"This investment demonstrates Lonza's commitment to innovating along the value chain and to creating additional value for our customers with new technologies and integrated solutions," said Sven Abend, COO of Lonza's Specialty Ingredients segment.