The fund typically invests in startups that are 2-3 years old and participate in rounds with 3 participants. Epidarex Capital is a frequent investor in these startups, along with AlbionVC. Innovate UK often provides funding in the later rounds. The fund had a high level of activity in 2018, with deals ranging from 5 to 10 million dollars. ALSA Holdings, a biotechnology investment firm based in Europe, focuses on novel therapeutics in the preclinical or early clinical development stage. Managed by the founder and ex-CEO of Novotech, ALSA Holdings has expertise in clinical development and actively invests in new companies as well as later syndicated rounds.