The Fund's general partner, Third Security RNR LLC, is managed and operated by Third Security, LLC.
Third Security is a venture capital firm characterized by an expanding global perspective and a distinctively patient approach. The firm evaluates opportunities in a wide range of industries, but principally focuses on emerging through late-stage investments in life-sciences and communications technology.
Currently, Third Security has more than forty employees, leveraging its people, expertise and capital to guide portfolio companies to market leading positions. Its mission is to generate extraordinary returns through active investment management. The firm maintains the highest standards of professional conduct and employs a conservative, proven and disciplined approach to investing.
In managing the general partner and the Fund, Third Security looks for unique business opportunities that hold tightly-protected intellectual property with significant commercial potential. The firm's approach to unlocking value is derived from a patient investment program, an effective team and operational acumen that are combined with extensive research. Through active strategic management and guidance, Third Security strives to lead our investments to category dominance.
Third Security's selection process is non-formulaic without a preconceived matrix. Some of its investments are large, some are small; some public, some privately held. What all of the investments have in common is an uncommon advantage: each is selected for a strategic position in its field with the potential for both category dominance and financial return.
Some common elements of attractive investment opportunities:
Unique value: We seek companies that can carve out a unique space for themselves, whether by protectable intellectual property, a significant lead time on competition, high barriers to market entry, market presence, strong relationships with customers, or a novel approach, location or position. One of our first questions in evaluating an opportunity is, "What makes this uniquely yours?"
Entrepreneurial execution: It takes more than a great idea to build a successful business. It takes an execution-oriented entrepreneur and management team to capitalize on the opportunity's advantages while avoiding pitfalls and distractions. Proven ability to execute a focused plan figures very highly in our evaluation process.
Market leadership: There are a lot of good opportunities out there. We believe that with a good concept and a good team, a company should be able to lead its market. We approach each investment opportunity with this in mind, and it is imperative that a company's business plan outline a realistic roadmap for achieving market leadership.