A venture capital fund founded in 1992 and based in the US Mid-Atlantic region focuses on healthcare IT and diagnostics. The firm primarily invests in the growth stage at the series A or B round, though if investing early, the firm would be part of a syndicate. The firm typically invests around $1M-$15M into early companies, and $10M-$30M into growth stage companies. The firm seeks to make 10-15 new investments within the next year. The firm focuses on companies based in USA and Canada due to practical matters, though may be open to investments on a global level.
The firm has a primary focus in healthcare IT, particularly in EMR companies, analytics, and any next generation IT tools for enterprise or ambulatory settings. The firm’s secondary focus is in tools and diagnostics, specifically in 510K genomics diagnostics, though is open to any kind of new diagnostic tool or test. The firm currently does not have interest in therapeutics or medical technology. The firm prefers companies with a commercialized product that is producing revenue, though does not have a revenue requirement and may be open to clinical stage products.
The firm primarily invests in growth stage companies where 80% of their invested companies have revenue with a product looking to expand in the market and 20% of invested companies at the pre-revenue, close to commercialization stage. The firm typically invests in pre-revenue companies when the technology is close to commercialization (i.e. steps away from approval) and/or when the company has a strong management team with members the firm has known from before. The firm does not have a management team requirement and will take a board seat depending on the size and ownership of the investment.
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