BioStar Ventures Raises $68.6M Fund for Med-Tech Companies
BioStar Ventures has raised a $68.8 million third fund, its largest to date, and plans to invest the money in as many as 18 emerging med-tech companies during the next five years, the firm said in a statement today. Its first two funds totaled $65 million.
The firm has previously invested in 30 companies, including ultrasound technology business Kona Medical and Kalamazoo, MI-based Ablative Solutions. Based in Petoskey, MI, BioStar typically makes initial investments of $1 million and invests $2 million to $6 million during the life of an investment.