A Venture Capital firm founded in 2000 and based in the US Southeast has $250 million in assets under management. The firm recently had a first close on its new fund, with up to 20% of the committed capital going to seed and early stage companies and projects. The firm typically invests between $2 and $4 million initially and $6M to $10M over the lifetime of the investment. Investments are generally in the form of milestone based equity tranches, however the firm also has experience in working with convertible notes. The firm is looking to make 4-6 allocation in the next 6-9 months throughout the United States, focused on companies in the Southeast.
The firm is currently looking for early stage companies in the Therapeutics, Diagnostics, Medical Technology and HealthCare IT spaces. In the Therapeutics space the firm is opportunistic in terms of subsector but is most interested in indications of Ophthalmology, Cardiovascular, Pulmonary, Anti-Infectives, Metabolic Disorders, Renal Diseases, Oncology, Immunology, Dermatology, and Orphan Diseases. For companies developing therapeutics the firm is looking for companies primarily with a lead product in preclinical trials although they will consider companies with products having recently entered Phase I. The firm also has generally stayed away from and is not currently seeking companies working in Wound Care. In the Medical Technology space the firm strongly prefers that the company have at least have an early prototype of their product and the firm is opportunistic in terms of medical device subsector. The firm looks for companies in the healthcare IT space to be revenue generating.
For Healthcare IT investments, the firm looks only at post-revenue companies; however, for drug and device deals, the firm only invests in pre-revenue companies, often working with spinouts directly from universities.
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