An East Coast-based hedge fund is seeking to make 3-4 new equity investments into companies at the Series C stage or later, with commercial sales (at least Series C) in North America, or Europe with plans to enter the U.S. market. The firm is open to companies headquartered anywhere, but requires that products are approved and sold in Europe and/or the US. For companies with enterprise values of $20m – $200m, the firm commits $5m – $20m and is willing to lead rounds or join syndicates as long as the investment gives a meaningful stake in the company for the purposes of being able to add value.
The firm is interested in commercial-stage medical devices and diagnostics, and focuses on products that help fill a large unmet need and have a strong health economic value proposition. The firm prefers the technology to be commercial-stage or at least past FDA-approval and close to generating revenue. Within medical devices, the firm prefers devices with strong IP protection, generally with PMA or 510(k) approval. Within diagnostics, the firm is very opportunistic though their recent experience has focused on cancer genomic testing. The firm is open to all indication areas but historically has focused on cardiovascular, oncology and minimally invasive surgery.
The firm looks for seasoned management teams that have relevant experience in the sector the company is involved in. The firm likes to see this across the C-suite, particularly in the CEO and sales and marketing leadership. The firm takes a board seat when making investments and looks to add value through active involvement.
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