Hot Investor Mandate: Investment Firm in USA Allocates Up to $30M in Medical Devices, Diagnostics, Digital Health Companies, Primarily Looking Into the Boston Area

6 Oct

A venture capital firm headquartered in the USA. With about USD 600 million in assets under management, the firm looks to participate in pre-seed to pre-IPO funding. The firm launched a second fund expects to complete fundraising by Q2 2023. The firm will typically make between 15 and 20 new investments per year and will typically make follow up investments in existing portfolio companies. Typical investments range between USD 100 thousand and USD 30 million. The firm will utilize various capital structures as determined on a case-by-case basis including equity investments debt, convertible loans, and SAFEs. The firm invests primarily in companies in the Boston area.

The firm will make investments across all modalities within the medical devices, diagnostics, and digital health sectors. The firm has made and will consider investments in therapeutics as well but prefers to focus on platform technologies. The firm will invest in therapeutics that are pre-NDA as well as medical and diagnostic technology that is in development and clinical. The firm will invest in all classes of medical devices including Class II (510k) and Class III (PMA). The firm is disease agnostic and will consider companies across all indications.

The firm will work with both experienced and inexperienced management teams but tends to avoid management teams led by a journeyman CEO. The firm will participate as a lead investor, co-investor, and follow-on investor. The firm will take an active board seat if acting as the lead investor but tends to take a board observer seat if acting as a co-investor. The firm will not take any board seat if acting as a follow-on investor.

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