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Private Equity
rosetta-capital.com

Investments

3

Portfolio Exits

1

About Rosetta Capital

Rosetta Capital is a private equity investment firm based in Pittsburgh, PA that acquires and invests in companies with values from $5 million to $50 million. The firm's investment approach has several key elements: a buy/build/hold strategy, a partnership-based business model, and a relationship philosophy built on open and honest communication among all parties.

Headquarters Location

Sainte Claire Plaza 1121 Boyce Road, Suite 400

Pittsburgh, Pennsylvania, 15241,

United States

724-969-0730

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Latest Rosetta Capital News

Trust formerly led by Neil Woodford sells Carrick stake at discount

Apr 9, 2021

Irish biopharmaceutical company stake part of package sold to Rosetta Capital about an hour ago       Schroder UK Public Private Trust , which was previously led by disgraced fund manager Neil Woodford , has sold its stake in Irish biopharmaceutical company Carrick Therapeutics at a marked discount. The fund recently sold its shareholding in Carrick and another six companies to life science venture capital firm Rosetta Capital for a combined £52 million (€60 million ). This marks an aggregate 22 per cent discount on the value of those companies since September 2020. The fund’s stake in Carrick was valued at £18. 2 million at that time. The deal has just completed with Schroder this week saying the Carrick stake “will be revalued as a result of the implications from the Rosetta transaction.” Carrick, which is focused on developing pioneering treatments to defeat many of the most aggressive and resistant cancers, launched in 2016 after raising $95 million with Woodford Investment Management among the backers. Value Formerly known as the Woodford Patient Capital Trust, the fund rebranded in December 2019 when asset manager Schroders took it over shortly after Mr Woodford’s empire imploded. Schroder UK Public Private Trust said this week its net asset value declined from £398 million in September 2020 to £318 million at the end of December,largely due to writedowns on portfolio companies. Other portfolio companies that have experienced recent writedowns but which were not part of the Rosetta sale, include cancer treatment group Rutherfod Health and Atom Bank . Shares in the investment trust fell by nearly 11 per cent on Wednesday following the writedown disclosure. Carrick Therapeutics was co-founded by Elaine Sullivan , a former vice-president for research and development at both US drugs giant Eli Lilly and British peer AstraZeneca . The company is privately held in Dublin with operations in the UK and US. Dr Sullivan was named Emerging Entrepreneur of the Year at the EY awards in 2018 and was also a finalist in The Irish Times Business awards. In 2019 she relinquished her role as chief executive of the company after it established operations in Boston, Massachusetts. Veteran Dr Sullivan now has a role as “executive entrepreneur and adviser to the board of directors” at Carrick with industry veteran Tim Pearson now serving as chief executive. In addition to Carrick, Woodford was also an investor in Irish life science investment company Malin with US hedge fund Pentwater Capital buying the 23 per cent stake in the group in October 2019. Malin on Friday completed the sale of its investee company Kymab to Sanofi for $1.1 billion and it is expected to receive $113 million upfront and may potentially gain a further $33 million from the milestone payments. The Schroder Trust will receive an initial $82 million for its stake in Kymab and also stands to net a further $33 million in future payments. Topics:

Rosetta Capital Investments

3 Investments

Rosetta Capital has made 3 investments. Their latest investment was in Carrick Therapeutics as part of their Series C on December 12, 2022.

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Rosetta Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/1/2022

Series C

Carrick Therapeutics

$25M

Yes

1

12/9/2010

Series F

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$99M

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0

Other Investors

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0

Date

12/1/2022

12/9/2010

Round

Series C

Series F

Other Investors

Company

Carrick Therapeutics

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Amount

$25M

$99M

New?

Yes

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Co-Investors

Sources

1

0

0

Rosetta Capital Portfolio Exits

1 Portfolio Exit

Rosetta Capital has 1 portfolio exit. Their latest portfolio exit was Cornerstone OnDemand on March 17, 2011.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/17/2011

IPO

$99M

Public

Date

3/17/2011

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

Rosetta Capital Team

3 Team Members

Rosetta Capital has 3 team members, including , .

Name

Work History

Title

Status

Jonathan Hepple

Seroba Kernel, and Rothschild Asset Management

Founder

Current

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Name

Jonathan Hepple

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Work History

Seroba Kernel, and Rothschild Asset Management

Title

Founder

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Status

Current

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