J.P. Morgan Hires Joseph Siletto for Healthcare Investments

J.P. Morgan Life Sciences Private Capital has hired Joseph Siletto as a new Managing Partner to expand its investment focus in the healthcare sector.

Mr. Siletto joins the team from Vivo Capital, where he was a managing director focusing on growth equity and private equity transactions for commercial companies. Over his career, Mr. Siletto has more than 25 years of experience in the private healthcare space, including co-founding Scion Medical Technologies, a Massachusetts-headquartered medical device manufacturer that was acquired in 2019 by Varian Medical Systems.

“I’m delighted to join the globally esteemed team at J.P. Morgan Life Sciences,” said Mr. Siletto. “As part of a world-class investment team, I’m looking forward to leveraging J.P. Morgan’s existing presence in the healthcare sector, which we believe will give us a significant sourcing advantage as we seek to identify innovative and transformative healthcare companies.” Mr. Siletto will be based in the Boston office of J.P. Morgan Life Sciences.

In his new role, Mr. Siletto will work alongside existing Managing Partners Anya Schiess and Gaurav Gupta, M.D., reporting to Stephen Squinto, Ph.D. The expanded team will target investments in Series B through pre-IPO stage healthcare companies, specifically within biotechnology, medical devices, health technology and services, and diagnostics and tools subsectors.

The healthcare industry, particularly in areas of biotechnology and artificial intelligence, is poised for significant growth and transformation. According to Grand View Research, the global biotechnology market is expected to reach $2.4 trillion by 2028, growing at a CAGR of 15.8% from 2021 to 2028. Key trends driving this growth include advancements in AI-driven drug discovery, personalized medicine, gene editing technologies, and the increasing convergence of technology and healthcare.

“As advances in biotechnology and artificial intelligence continue to transform the healthcare industry, our expanded team should allow us to take advantage of this transition and remain a preferred partner for companies looking to implement innovative ways to treat, identify, and prevent disease,” said Ms. Schiess.

Last month, J.P. Morgan Private Capital, a venture capital and growth equity investment team within J.P. Morgan Asset Management, held a final close of its inaugural life sciences fund, 270 Life Sciences Private Capital Fund I (the “Fund”), led by Chief Investment Officer Stephen Squinto, and Managing Partner Gaurav Gupta. The fund closed above its $500 million target and was backed by institutional investors, strategic corporate partners, family offices and high net worth individuals across North America, Europe, the Middle East, and Asia.

J.P. Morgan Life Sciences is a venture and growth equity investment team within J.P. Morgan Asset Management Alternatives. The team focuses on investing in Series B through pre-IPO stage healthcare companies, particularly in biotechnology, medical devices, health technology and services, and diagnostics and tools subsectors. J.P. Morgan Life Sciences is part of J.P. Morgan Global Alternatives, which has over 60 years of experience in managing alternative investments and $214 billion in assets under management.