BOSTON (Reuters) - Investor Fredric Zaino, who spent 15 years at hedge fund Millennium Management, has launched his own firm and plans to invest in micro-, small- and mid-cap public and private companies focusing on biotech, real estate and consumer products.
Keystone Capital Partners has already made investments with biotechnolgy companies PolarityTE (NASDAQ:PTE) Inc and Vaccinex (NASDAQ:VCNX) Inc and expects to make another seven to 10 investments this year, Zaino said.
The company plans to invest roughly $50 million and is currently not planning to try and raise funds from outside investors. The New York-based firm is being led by Zaino and three senior colleagues.
Zaino, who specialized on the biotech/med tech sector at one of the industry's biggest hedge funds Millennium, said he plans to help finance select biotechs that need capital for new trials, adding that the sector will likely be more robust than the retail, restaurants and travel sectors.
"People are worried about things like COVID, but the one sector that would have a tailwind is biotech."