Founded in 2005, Astellas Venture Management is a well-known corporate investor that primarily invests in the biotechnology sector. Based in Menlo Park, California, the company typically participates in investment rounds with 5-6 other participants. While other notable sponsors for the fund include MPM Capital, U.S. Venture Partners (USVP), and SR One, it often secures funding from Novartis Venture Fund, SR One, and MPM Capital in subsequent rounds. The fund has a lower exit commitment rate compared to other companies, but saw an increase in exits in 2018. It typically invests in deals ranging from $10 to $50 million and participates in 2-6 investment rounds annually. Astellas Venture Management tends to invest less than the average amount as a lead investor. The fund has no specific preference for the number of founders in portfolio startups, but startups with 4 or 5+ founders have a lower probability of receiving investment. Additionally, startups that are 4-5 years old are more likely to attract investment. The fund's investments are primarily focused on the Medical Device and Food and Beverage industries. With its headquarters in Tokyo, Japan, Astellas Pharma Inc. is the parent company of Astellas Venture Management and is one of the top pharmaceutical companies in Japan.