A Canada-based venture capital firm makes investments with an average size of $5 million with reserves left for follow-on rounds. The firm seeks to make 4-5 new investments per year, and typically co-invests in seed, venture and series A investments at $50,000 – $1M per company. The firm has partnerships with medical software/device, fintech and ICT funds in which the firm will pass on deal flow. The firm has particular preference to companies located in North America, though is open to Australia and Western Europe depending on the opportunity. The firm does not request distribution rights for international investments.
The firm is interested in early-stage wearable technology and software-enabled technology, particularly ones that can improve hospital operations. The firm does not have a preference for any specific indication areas. The firm does not have revenue requirements for wearable technology and is not particularly interested in products that require regulatory pathways. The firm is interested in companies that are in the development or clinical-stage but will only invest in healthcare IT companies if it is already established with positive cash flow. Outside of software and wearable technology, the firm will look at medical devices to evaluate and connect to partnered funds.
The firm values sweat equity but the firm will not make any investments into a company unless the founding team has invested their own funds into the company’s success. The firm takes a board seat when making any new investments and looks for strong, experienced management teams. The first question the firm will ask any new opportunity is whether or not they have experience in marketing, sales, startups, or the industry they are entering. The firm can provide strategic management if necessary.
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