BioVentures Investors has held the closing of its fourth fund at USD87 million.
The Wellesley, Massachusetts, venture fund will invest in high-value-added medical technology enterprises (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. 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.
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.