NewVale Capital

Managing Partner Todd Holmes, a co-founder, leads the investment team from the firm's Boulder headquarters. He is supported by Executive Partners Patrick Lee and Rich Fante, both of whom bring direct life sciences operating and investing experience. Day-to-day deal execution sits with Principals Sami Hawwa and Melanie Larkins.

NewVale explicitly invests in the gap between commercial proof points and commercial scale — companies that are revenue-generating, have validated their product with customers, but need growth capital to build out operational infrastructure. This puts the firm between traditional venture capital (which favors earlier, unproven technology risk) and traditional private equity (which often requires greater scale and stable cash flows for leverage).

NewVale makes direct growth equity investments out of its committed fund structure, not fund-of-funds commitments. The firm led a $30 million round in Noxilizer in September 2025 and co-invested alongside Telegraph Hill Partners in Argonaut Manufacturing Services, indicating it can serve as either lead or co-investor.

The firm invests exclusively in the services architecture of the life sciences industry, broken into four segments: drug discovery (lab and research services), clinical research (trial execution and data platforms), manufacturing and supply chain (CDMOs and quality systems), and commercialization (launch support and market access). It avoids therapeutics developers and pure biotech platform companies.

NewVale runs a sector-specialist fund size with a narrow mandate limited to outsourced pharma services. The managing partner and executive partners have direct operating experience as former customers of the types of businesses they invest in, creating a sourcing and diligence advantage that a generalist fund covering medical devices, payors, and providers cannot replicate.

No adjacent investment vehicles, philanthropic foundations, or operating businesses are publicly disclosed. The firm appears to operate as a single-fund growth equity manager organized around its inaugural 2024 vintage.

NewVale has demonstrated a willingness to co-invest alongside other specialist growth equity investors, as seen in the Argonaut deal with Telegraph Hill Partners. The firm can structure transactions either as a lead investor or as a syndicate partner, offering flexibility to management teams and other sponsors.