Hot Life Science Investor Mandate 2: VC Promises Fast Allocations – January 29, 2013

29 Jan

A venture capital fund in the Eastern US with around $20 million in total assets is currently looking for new opportunities in the life sciences space. The fund was created by its state legislature to promote economic growth. The organization has an evergreen structure, which means that they provide companies with incremental payments throughout the development phase of the product or company, rather than providing all of the capital to a firm upfront in one lump sum, which is the model that venture capital funds typically follow.

The fund, which is quasi-public, would allocate to a firm within the next six months if a compelling opportunity were identified. The firm’s typical investment size ranges from $300,000-500,000 per firm. Specifically, they are looking for medtech firms developing medical devices. The organization will allocate to firms that are pre-revenue, but the firm does need to have a prototype of the device. Additionally, they are interested in the healthcare/IT space.

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