Silicon Valley venture capital firm Menlo Ventures just added a new partner on their team: Greg Yap. Menlo’s team now consists of five partners: Mark Siegel, Venky Ganesan, Matt Murphy, Shawn Carolan, and Greg Yap.
Yap will focus on investments in the biotech, and he has 20 years of experience in the life sciences industry. Yap will help Menlo find companies to invest in that are “at the intersection of biology and computer science,” as he told Business Insider. Yap has spent his career working at companies such as Illumina Ventures, Roche, and Affymetrix. Joining the Menlo team, he’ll be bringing his experience working as an entrepreneur, in the day-to-day operations navigating regulatory processes, and other things traditional technology companies might not encounter.
Menlo partner Mark Siegel says the firm originally got out of biotech investing in the 90s because the timeline of bringing a drug from discovery to approval was too long for returns, especially compared to the growing IT industry. As part of its return to the biotech industry, Menlo will be devoting 15% of its $450 Million fund for investment.
“Biotech is entering a new era, and Greg will bring domain expertise to Menlo at a time when many of the most important discoveries will be made at the intersection of biology and computer science,” said Menlo partner Mark Siegel. “Advances in machine learning, AI and big data analysis are enabling new business models and markets and have the potential to impact human health in ways we can scarcely imagine. We think a multidisciplinary approach is crucial, and we are excited to welcome Greg.”
“I’ve always been passionate about improving healthcare through new technologies, and I’m excited to join Menlo to continue to back iconic entrepreneurs with this shared mission,” Yap said. “Applications like personalized medicines, genomics, synthetic biology, and digital health represent huge market opportunities. We believe we can help our companies with the challenges of commercializing products and building businesses that truly make a difference.”