New Jersey is known as "The Garden State". The reason for that name is not known for certain, but one thing that has certainly flourished is the amount of money invested by venture capitalists in the Healthcare sector in the state. According to the PitchBook Platform, venture capitalists have invested a total of $3.27 billion in New Jersey-based companies since the beginning of 2007, 58% of which was poured into Healthcare companies.
The "Pharmaceuticals and Biotechnology" sub-sector has been the main contributor to the lively investment activity in New Jersey. This sub-sector alone accounted for 46% of the venture capital funds received in the State over the same time period.
Hello products: an example from New Jersey Healthcare
Hello productsa developer of oral hygiene products, has received funding led by la Tenth Avenue Holdings (TAH)with the participation of William Morris Endeavor and Harmony Partnersamong others. The companys Montclair, New Jersey, company offers a product line that includes toothbrushes, toothpaste, mouthwashes and respiratory sprays. The new capital will be used to invest in proprietary packaging, inventory, marketing and business development, as well as new product development and sales expansion. As part of the transaction, TAH Co-CEOs Citron Joel and Laurence Denihan will join the Hello board of directors.