Jack Young, who has focused on digital health as managing director at Qualcomm Ventures and Qualcomm Life, is moving to Deutsche Telekom Capital Partners, according to a company statement. He’ll serve as a partner responsible for its global venture operation.
He will work out of the company’s new U.S. office on Sand Hill Road and will oversee investors for the U.S., Europe and Israel.
DTCP has a portfolio of more than 80 companies, according to its website, but doesn’t readily identify its digital health investments. Young’s move could signify an expansion into this area. Vicente Vento, CEO of DTCP, hinted as much in the statement.
“Jack brings great balance between foresight and a structured investment approach to our venture capital operation,” said Vento. “With his unique qualification and proven track record in building funds and reputable brands, we welcome Jack to our $2 billion investment platform.”
At Qualcomm Ventures, Young oversaw venture investment and portfolio management. He also launched dRx Capital, a joint venture with Novartis targeting beyond the pill investments as pharmaceutical companies seek to track and quantify the effectiveness of their drugs and to provide services to improve communication between physicians and patients to improve outcomes.
Young also managed Qualcomm Life Fund’s investments in digital health companies such as Fitbit, Doctor on Demand, Omada Health, Airstrip, AliveCor, and WellTok.
Digital health has been the scene of a lot of investment activity, especially from companies new to healthcare, albeit with varying degrees of success.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Dan Primack of Fortune noted that Young marks the second major departure from Qualcomm Ventures since group head Nagraj Kashyap moved to Microsoft Ventures.
