Vertex Ventures HC (VVHC) has pledged $200 million in a new fund to support life sciences and medical technology companies.
The healthcare venture capital firm’s third fund will look for investment opportunities in early-stage companies that are developing disruptive technologies, breakthrough research and new medicines for patients.
Lori Hu, managing director of VVHC in San Francisco will lead the fund with Christine Brennan, managing director of VVHC in Boston, focusing on diversified investment strategies for life sciences and medical technologies.
The woman-led firm manages $550 million worth of assets in over 25 portfolio companies including around 20 clinical-stage assets and three products cleared by the FDA.
“As technology continues to reshape industries and science continues to advance, VVHC recognises the tremendous potential of companies that hold promise for transforming healthcare and driving societal impact,” said Hu. “As one of the few women-led funds in the healthcare sector, we are proud of our track record of success in supporting visionary entrepreneurs from company formation through exit.”
VVHC said it will use its network of industry experts, researchers, and entrepreneurs to support companies that have been invested in and will give them access to strategic partnerships and offer mentoring opportunities.
“With our third fund, we will continue to fuel the growth and advancement of medicines by providing capital, strategic guidance, and invaluable expertise to companies developing cutting-edge solutions and to weather the ups and downs of market cycles,” said Brennan.
Currently VVHC has invested in six medtech companies developing innovative tech which include Earlens Hearing Aid, Olympic Ophthalmics non-invasive device for the treatment of dry eyes, Neuspera’s implantable sacral neuromodulation system, Nuvaira’s Targeted Lung Denervation (TLD) therapy, Moximed’s knee implant and Kona Medical’s Surround Sound system.
