Mr. Siletto joins from Vivo Capital as
Co-Managing Partner
NEW
YORK, July 11, 2024 /PRNewswire/ -- J.P.
Morgan Private Capital, a venture and growth equity investment
team within J.P. Morgan Asset Management Alternatives, today
announced its next phase of growth with the hiring of industry
veteran Joseph Siletto as a new
Managing Partner alongside Anya
Schiess and Gaurav Gupta,
M.D., M.S.E, reporting to Stephen
Squinto, Ph.D. The expanded team will look to invest in
Series B through pre-IPO stage healthcare companies, specifically
within the biotechnology, medical devices, health technology and
services, and diagnostics and tools subsectors.
"I'm delighted to join the globally esteemed team at J.P. Morgan
Life Sciences Private Capital," said Joseph Siletto, Managing Partner, J.P. Morgan
Life Sciences Private Capital. "As part of a world-class
investment team, I'm looking forward to leveraging J.P. Morgan's
existing presence in the healthcare sector that we believe will
give us a significant sourcing advantage as we seek to identify
innovative and transformative healthcare companies."
Based in Boston, Mr. Siletto
has over 25 years of experience investing in the private healthcare
space and most recently was Managing Director at Vivo Capital.
Prior to this role, he co-founded Scion Medical Technologies.
The expanded platform will look to finance opportunities that
aim to enhance disease treatment and patient outcomes while
reducing costs through several key initiatives, including but not
limited to: supporting innovative treatment methods, utilizing
cutting-edge technology, applying increased computing power with
artificial intelligence to develop more impactful treatments,
improving diagnostic tools for earlier disease detection and
prevention, and delivering healthcare solutions to patients in a
more cost effective way.
"As advances in biotechnology and artificial intelligence
continue to transform the healthcare industry, our expanded team
should allow us to take advantage of this transition, and remain a
preferred partner for companies looking to implement innovative
ways to treat, identify and prevent disease," said Anya Schiess, Managing Partner, J.P. Morgan Life
Sciences Private Capital.
Biography
Joseph Siletto is
Co-Managing Partner of Life Sciences Private Capital ("LSPC")
within J.P. Morgan Private Capital, a division of J.P. Morgan
Global Alternatives in J.P. Morgan Asset Management. Joseph joined
from Vivo Capital in 2024. While at Vivo, Joseph focused on
sourcing investments, executing transactions and serving on the
board of directors for growth and private equity companies. Over
his time with the firm, he sourced and served on the board of over
10 companies. In addition to his investment and board
responsibilities, Joseph also took an active operations role within
several portfolio companies. Prior to his time at Vivo, Joseph
created the business plan and was the co-founder for Scion Medical
Technologies, a company which completed a half dozen acquisitions
to build a global, commercial medical device portfolio focused on
interventional oncology. Scion was ultimately sold to NYSE-listed
Varian Medial and is now part of Siemens. Prior to his time as an
entrepreneur and investor, Joseph was an investment banker for
Cowen & Company and Banc of America Securities focused on
healthcare M&A and capital raising. Joseph has a Bachelor of
Arts from Duke University and an MBA
from the Haas School of Business at the University of California at Berkeley.
About J.P. Morgan Private Capital
J.P. Morgan Private Capital provides customized financing
solutions for private companies across the capital structure with a
focus on venture and growth investing. The platform's solutions
span the consumer, technology, and life sciences sectors.
J.P. Morgan Private Capital is part of J.P. Morgan Global
Alternatives, the alternative investment arm of J.P. Morgan Asset
Management. With over 60 years of experience in managing
alternative investments, $214 billion
in assets under management and over 800 professionals (as of
March 31, 2024), its strategies cover
the full spectrum of alternatives: real estate, private equity,
private credit, liquid alternative products, infrastructure,
transport, hedge funds and forestry. From the Americas,
Europe and Asia, independent alternative investment teams
combine their cutting-edge expertise with J.P. Morgan's resources,
infrastructure and global reach to achieve each client's specific
objectives. For more information : jpmorgan.com/am
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
$3.2 trillion (as of 3/31/2024), is a
global leader in investment management. J.P. Morgan Asset
Management's clients include institutions, retail investors and
high net worth individuals in every major market throughout the
world. J.P. Morgan Asset Management offers global investment
management in equities, fixed income, real estate, hedge funds,
private equity and liquidity. For more information:
www.jpmorganassetmanagement.com. J.P. Morgan Asset Management is
the marketing name for the asset management businesses of JPMorgan
Chase & Co., and its affiliates worldwide.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United States
of America ("U.S."), with operations worldwide. JPMorgan
Chase had $4.1 trillion in assets and
$337 billion in stockholders' equity
as of March 31, 2024. The Firm is a
leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction
processing and asset management. Under the J.P. Morgan and Chase
brands, the Firm serves millions of customers in the U.S., and many
of the world's most prominent corporate, institutional and
government clients globally. Information about JPMorgan Chase &
Co. is available at www.jpmorganchase.com.
J.P. Morgan Life Sciences team members' past investing and
operating experience is provided solely in order to illustrate the
nature of their professional experience with respect to the types
of investments and transactions that JPM intends to pursue and is
not indicative of JPM's future results and should not be understood
as JPM's "track record" information or be relied upon in connection
with any investment or other related decision.
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SOURCE J.P. Morgan Asset Management