The investment objective of HealthCap is to achieve significant long-term capital appreciation. We diversify the portfolios by field of activity, geography and stage of company development. We invest in a variety of instruments, predominantly as a minority investor, although there is no limit, either maximum or minimum, regarding the share of votes or capital that we may hold in a portfolio company. We will not make an investment unless we believe that there are realistic avenues through which to exit the investment. We have substantial experience in assisting companies through the growth from the start-up stage to a business prepared for an initial public offering or a trade sale.		Investment Criteria We analyze the investment opportunities based on, among others, the following criteria: Fulfilment of important medical needs High degree of innovation/transformational technologies Improvement in the economics of the health care sector Strong intellectual property rights Attractive to strategic partners Capital efficient business model High quality management