DRI Capital
DRI Capital Inc. is a Toronto-based fund manager of healthcare royalty funds, a type of private equity fund. Its CEO is Behzad Khosrowshahi, the son of Iranian business magnate Hassan Khosrowshahi.[1]
 | |
| Private equity | |
| Industry | health care, private equity |
| Founded | 1992 |
| Headquarters | Toronto, Ontario, Canada |
Key people | Behzad Khosrowshahi (Chairman and CEO) |
| AUM |  |
Number of employees | 35 (2013) |
| Website | www |
Investment strategy
Beginning with its third fund in 2013, DRI Capital CEO Behzad Khosrowshahi said that the firm also plans to consider investments in drugs that are in Phase III trials.[2]
History
The company was founded in 1992 as Drug Royalty Corporation by Alan Grieve, the company's first president and CEO. In its first fiscal year of operation, it went public on the Toronto Stock Exchange and purchased a royalty interest in the pioneering British biotech firm, Cambridge Antibody Technology Limited.[3]
On March 11, 2002, Drug Royalty Corporation announced that it had accepted an all-cash bid of $133 million to take private the publicly traded company from a wholly owned subsidiary of Inwest Investments Ltd. Four weeks later, Drug Royalty's new owners replaced then president Jim Webster with Behzad Khosrowshahi, the eldest child and only son of Hassan Khosrowshahi.[4][5]
References
- Krista Foss (Sep 1, 2003). "Gentleman Pharmer: His father made a fortune on the Future Shop chain. Now Behzad Khosrowshahi hopes to multiply it by investing in drug-royalty rights". National Post Business magazine. p. 41.
- Joseph Haas (Sep 9, 2013). "DRI Capital To Pursue Phase III Assets With Some Of Its Third Royalty Fund". The Pink Sheet Daily.
- http://www.twst.com/interview/2405
- "Drug Royalty chief resigns". The Globe and Mail. May 28, 2002. p. B7.
- http://www.lexpert.ca/magazine/big-real-estate-deals/inwest-subsidiary-to-bid-for-drug-royalty-shares-266/
