Fred Craves, founder of Bay City Capital, is one of the nation's top investors.
BAY CITY CAPITAL: Ex-Localite Fred Craves Heads $1.6 Billion Venture Firm
August 6, 2015
By: Dave Rogers
Dr. Fred Craves has adopted the name of his hometown for his venture capital company that has raised $1.6 billion.
Of course Bay City Capital also relates to the headquarters of the firm, San Francisco, also known as the "bay city."
Craves, 69, a pharmaceutical entrepreneur, has been recognized as one of the nation's leading investors.
A graduate of Bay City St. James High School, he earned a BS in Biology from Georgetown University, an MS in Biochemical Pharmacology from Wayne State University and a PhD in Pharmacology and Toxicology from the University of California, San Francisco.
Founded in 1997 and based in San Francisco, Bay City Capital LLC is a life sciences investment firm with a global diversified strategy ranging from seed stage to public companies, and including innovation, restructuring opportunities, and growth investing.
Nearly all of the partners have been with the firm for 12 years or more, and they are supported by over 20 investment professionals, distinguished advisers, and scientific advisory board members.
Bay City Capital funds have invested in a total of 100 portfolio companies covering a broad range of life science sectors, including bio-pharmaceuticals, drug discovery and research tools, medical devices, diagnostics, health care IT, nutrition, and agribusiness.
Fred Craves, PhD, is the Founder of Bay City Capital. Since launching the firm in 1997, Fred has built Bay City Capital to become one of the world's largest and raising more than $1.6 billion.
As a leader in health care venture capital, Dr. Craves brings both scientific skills and deep operational expertise to the companies in which he invests. This allows him to source outstanding investment opportunities and to support exceptional management teams in creating value.
He has been associated with some of the most significant company financing project in the bio-pharmaceutical industry including Reliant Pharmaceuticals, a company he founded then sold to GlaxoSmithKline in 2007 in the single largest all-cash transaction for a venture backed biotech company at that time.
He has served as Executive Vice President of Schering Berlin, Chief Executive Officer and President of Berlex Biosciences, Founding Chairman of the Board and Chief Executive Officer of Codon, and co-founder of Creative Biomolecules.
Dr. Craves has been named to the Forbes Midas List, which recognizes the most successful investors in the venture capital asset class across both the technology and health care industries.
He currently serves on the Boards of Madrigal Pharmaceuticals, Reset Therapeutics and Dermira. Previous investments and board participation, in addition to Reliant, include Medarex, Incyte Pharmaceuticals, and Ion Torrent.
Dr. Craves serves as a member of The J. David Gladstone Institute Advisory Council and as a member of the Board of Trustees of Loyola Marymount University in Los Angeles.