WELLESLEY, Mass.--(BUSINESS WIRE)--BioVentures Investors announced today the closing of its fourth fund at $87 million. The Wellesley, Massachusetts, venture fund will invest in high-value-added medical technology enterprises (commonly referred to as MedTech) such as medical devices and diagnostics. The fund’s focus is on technology with the potential to provide important benefits to patients, physicians and healthcare institutions, as well as significant returns to investors.
The fund’s management includes BioVentures Investors founders Marc Goldberg and Peter Feinstein; Jeff Barnes, Managing Director and Partner; and Walter Gilbert as Senior Partner. Marc Goldberg will serve as Managing Partner.
Since its initial close, Fund IV has made four investments, including Locemia Solutions which was acquired by Eli Lilly.
Other Fund IV investments include:
- Deep Vein Medical, expected to take its prosthetic venous valve into human trials next year;
- CoNextions Medical, a company whose system of simple and rapid tendon repair technology is expecting FDA marketing approval this year, and
- Endotronix, a digital health medtech company focused on advancing the treatment of heart failure.
Fund IV seeks superior venture opportunities created by the unification of breakthrough engineering and advanced biotechnology and clinical research. The fund seeks to purchase private equity positions in early-stage medical device, diagnostic and related companies which have the capacity to gain significantly in value within five years of the initial investment. Portfolio companies must address unmet needs for expanding patient populations while delivering cost effective solutions to healthcare providers.
About BioVentures Investors (www.bioventuresinvestors.com)
BioVentures Investors invests in new commercial technology in the healthcare sector with a focus on medical devices, diagnostics and similar new commercial technology, collectively known as Medtech. We have raised more than $220 million in four funds, all focused on the commercial development of innovative healthcare technology.