Foundation Capital Ventures Merges with Trinity Capital’s Life Science Platform to Launch Foundation, a National Life Science Platform
January 16, 2024
Trinity Capital Advisors is pleased to announce its partnership with Foundation Capital Ventures to establish Foundation, a new Trinity Capital portfolio company focused on delivering market-leading real estate solutions that support the growth of the life science, technology, and innovation sectors across the United States.
Denis Sullivan and Scott Altick will join Walker Collier and Jeff Sheehan as managing partners in Foundation to leverage the combined team’s expertise and extensive life science real estate experience. Sullivan and Altick previously worked together with the team at BioMed Realty for more than 15 years, serving as Chief Investment Officer and Market Lead, Bay Area, respectively, and worked closely with colleagues at Blackstone to assemble one of the largest life science real estate portfolios in the world.
Foundation Capital Ventures and Trinity Capital began working together in 2022 with the development of Spark LS, the $1 billion 109-acre advanced life science campus currently under development in Morrisville, NC. Together, Foundation’s leadership has completed more than $35 billion of life science capital market transactions and leased approximately eight million square feet to innovation tenants.
“Foundation is the natural evolution of our collaboration with Foundation Capital Ventures across life science development, and Walker and I are honored to partner with Denis and Scott to bring Foundation to Trinity Capital,” said Sheehan, managing partner at Trinity Capital. “They are subject matter experts whose hands-on experience coupled with Trinity Capital’s established platform and relationships will allow Foundation to deliver premier real estate solutions and superior outcomes for our tenants and investors across the country.”
Foundation will be supported by Trinity Capital’s institutional quality investment platform, established relationships with capital partners, and proven operational and transaction experience. Trinity Capital’s current life science portfolio comprises approximately three million square feet in North Carolina’s Triangle region. In addition to Spark LS (1.5 million square feet), the portfolio includes Southport Innovation Center, a 17-building, 911,700 square foot life science and technology campus, and Venable Center, a 290,665 square foot adaptive re-use development in downtown Durham.
“Scott and I look forward to continuing our work with Trinity Capital on the world-class life science portfolio they’ve developed and assembled across Research Triangle Park, and we are ready to leverage our platform’s collective set of relationships with both tenants and investors to build a national portfolio focused on the innovation sector,” said Sullivan.
For additional information about Foundation, visit www.trinitycapitaladvisors.com/foundation or contact Denis Sullivan (dsullivan@trinitycapitaladvisors.com) or Scott Altick (saltick@trinitycapitaladvisors.com).
ABOUT FOUNDATION
Foundation, a Trinity Capital Portfolio Company, is a proven operator, investor and developer of real estate that supports the innovation economy in primary and emerging markets across the country. Our decades of experience delivering the highest quality life science, technology, and innovation facilities empowers our tenant partners to focus on discovery while we focus on the real estate. We are subject matter experts within this niche asset class, deeply experienced in delivering sophisticated, institutional quality real estate and superior outcomes for our investors and tenants.
