We are a blank check company incorporated on August 26, 2020 as a Cayman Islands exempted company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this Report as our initial business combination. To date, our efforts have been limited to organizational activities, activities related to our initial public offering as well as the search for a prospective business combination.
While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team’s background and to capitalize on the ability of our management team to identify and acquire a business, focusing on the healthcare or healthcare related industries. In particular, we are pursuing investments, primarily based in North America and Europe and selectively in other geographies, including Asia and emerging markets, in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies. We may pursue a transaction in which our shareholders immediately prior to the completion of our initial business combination would collectively own a minority interest in the post-business combination company.
Our sponsor is an affiliate of Bain Capital Life Sciences, a leading life sciences investment manager with approximately $4.6 billion of assets under management as of September 30, 2021. Bain Capital Life Sciences was established in 2016 to invest in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally, with a focus on companies that both drive medical innovation and enable that innovation to improve the lives of patients with unmet medical needs. Our founders are the senior leaders of Bain Capital Life Sciences. Adam Koppel, our Chairman, is a
co-founder
and Managing Director of Bain Capital Life Sciences. Jeffrey Schwartz, our Chief Executive Officer, is a
co-founder
and Managing Director of Bain Capital Life Sciences. Andrew Hack, our Chief Financial Officer, is a Managing Director of Bain Capital Life Sciences.
Since its inception, Bain Capital Life Sciences has met with over 1,300 companies and has invested or committed over $1.1 billion in 33 companies in both private financing rounds and, when applicable, a subsequent initial public offering as of September 30, 2021. Bain Capital Life Sciences has led or
co-led
20 of the 33 private financing rounds and, following those investments, has had board representation through a director or observer role in 27 of the companies. Of the 33 private companies in which Bain Capital Life Sciences has invested, 17 have gone on to become publicly-traded companies, including Annexon (Nasdaq: ANNX), Arcutis (Nasdaq: ARQT), Atea (Nasdaq: AVIR), Nurix (Nasdaq: NRIX), Nuvalent (Nasdaq: NUVL), Rapid Micro Biosystems (Nasdaq: RPID), Replimune (Nasdaq: REPL), and SpringWorks (Nasdaq: SWTX), among others.
Bain Capital Life Sciences is an affiliate of Bain Capital, one of the world’s leading alternative asset management firms with approximately $155 billion of assets under management as of September 30, 2021. Since its inception in 1984, Bain Capital has employed a strategic, analytical approach to identify attractive investment opportunities and partner with management teams to transform and improve their businesses. During this time, Bain Capital has developed global reach, deep expertise and a proven track record in the life sciences across its business units. Bain Capital Life Sciences leverages the expertise of Bain Capital’s other affiliate advisors and Bain Capital’s infrastructure more broadly as a valuable resource, including its strong global relationships, capital markets knowledge, shared research services, and investment committee and internal advisory board insights.
The past performance of the members of our management team or their affiliates, including Bain Capital Life Sciences, is not a guarantee that we will be able to identify a suitable candidate for our initial business