Venture • Business Services

Aisling Capital, KKR and Polaris Partners Invest In Ajax Health

On January 1, 2017, private equity firm Aisling Capital, private equity firm KKR and growth capital firm Polaris Partners invested in business services company Ajax Health

Investment Context
  • This is Aisling Capital’s 1st, KKR’s 7th and Polaris Partners’ 3rd transaction in the Business Services sector.
  • This is Aisling Capital’s 36th, KKR’s 93rd and Polaris Partners’ 39th transaction in the United States.
  • This is Aisling Capital’s 9th, KKR’s 17th and Polaris Partners’ 7th transaction in California.

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Investment Summary

Date January 1, 2017
Target Ajax Health
Sector Business Services
Investor(s) Aisling Capital
KKR
Polaris Partners
Deal Type Venture

Target Company

Ajax Health

Menlo Park, California, United States
Ajax focuses on accelerating innovative medical device technology opportunities that address significant unmet clinical needs. Ajax Health was founded in 2017 and is based in Menlo Park, California.
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Investors Overview 3

Investor

Aisling Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Aisling Capital is a private investment firm focused on opportunities in the healthcare and medical technology sectors. The Firm specifically looks to invest in companies developing and commercializing innovative healthcare products, services, and technologies. Aisling Capital looks to commit $20 to $50 million per investment and prefers to be the lead investor. Aisling will consider investing in both public and private companies. Aisling Capital raised its first fund in 2000. The Firm is based in New York City.


Deal Context for Investor #
Overall 38 of 56
Sector: Business Services 1 of 1
Type: Venture 24 of 29
State: California 9 of 15
Country: United States 36 of 52
Year: 2017 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-12 Syros Pharmaceuticals

Cambridge, Massachusetts, United States

Syros Pharmaceuticals is a biopharmaceutical company applying a pioneering approach to discover and develop medicines that control the expression of genes with the aim of treating cancer and other serious diseases.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 BridgeBio

Palo Alto, California, United States

BridgeBio is an Orphan disease drug platform with a robust portfolio of transformative drug programs that address rare diseases across oncology, cardiology, dermatology, neurology, and endocrinology. BridgeBio was founded in 2015 and is based in Palo Alto, California.

Buy -
Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


Deal Context for Investor #
Overall 222 of 503
Sector: Business Services 7 of 19
Type: Venture 17 of 35
State: California 17 of 46
Country: United States 93 of 213
Year: 2017 2 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Trilogy MedWaste

Houston, Texas, United States

Trilogy MedWaste is a provider of medical waste management services. Trilogy MedWaste is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-02 BridgeBio

Palo Alto, California, United States

BridgeBio is an Orphan disease drug platform with a robust portfolio of transformative drug programs that address rare diseases across oncology, cardiology, dermatology, neurology, and endocrinology. BridgeBio was founded in 2015 and is based in Palo Alto, California.

Buy -
Investor

Polaris Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1996
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Polaris Partners is primarily a seed, first round, and early stage venture capital investor in information technology and life science businesses. However, Polaris also focuses on private equity investments in established companies. In this area, Polaris targets high growth middle market companies in industries including technology, healthcare, digital media, consumer products and services, and business services. The firm's investments include minority growth equity investments, recapitalizations with liquidity, and leveraged buyouts. Polaris Partners was formed in 1996 and has offices in Seattle, Washington and Waltham, Massachusetts.


Deal Context for Investor #
Overall 42 of 86
Sector: Business Services 3 of 3
Type: Venture 20 of 55
State: California 7 of 13
Country: United States 39 of 77
Year: 2017 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-10 Kallyope

New York City, New York, United States

Kallyope is a biotechnology company focused on harnessing the potential of the gut-brain axis, Kallyope was founded in 2015 and is based in New York City, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Foodberry

Boston, Massachusetts, United States

Foodberry is a food-tech innovation company that partners with food and beverage brands to develop and manufacture bite-sized snack products using plant-based coating technology. The Company’s platform draws inspiration from how nature protects fruit to create edible coatings that enable new snack formats. Foodberry was founded in 2012 and is based in Boston, Massachusetts.

Buy -