Timothy Wollaeger, managing director of Sanderling Ventures, has been around the San Diego biotech block, a community where each firm is but a few degrees of separation from one another. Which is exactly what keeps it thriving, he said.
Sanderling specializes in investing in seed and early-stage biotech and health care companies, and to date has supported more than 60 biomedical companies.
"Most of the companies that we invest in, we actually start," said Wollaeger. "The later stage ones that we (invest in) are all companies that we seeded early on."
Although investing in early seed is high-risk, the rewards are worth it for Wollaeger.
"If you're right, you tend to tend to make larger multiples of your money for your investors," he said.
Sanderling funds companies throughout the United States. The company has had investments in San Diego since 1988, 14 years before they branched south from San Mateo in the San Francisco Bay Area.