Banking & Finance, Health Care, and Manufacturing

Medical firm launches $10M venture capital fund

November 28, 2017
Print
Text Size:
A A

A medical device developer has created a $10-million venture capital fund to support early stage health care companies.

Holland-based Genesis Innovation Group said today it established the privately funded cultivate(MD) Capital Fund I, LLC, which will focus on medical device and orthopedic technologies.

The fully funded fund is limited to private placements and closed to the public.

The firm expects the fund to be “fully operational and actively seeking” investment opportunities by early 2018.

The fund will focus on mid- to later-stage companies and investment opportunities.

For the past four years, Genesis has focused on investments in medical device technologies at the earliest stages.

The cultivate(MD) fund will invest in innovative technologies that have “demonstrated evidence of effectiveness.” It will partner with Genesis Innovation Group to deploy Genesis’ team and network.

“Health care is a dynamic space, and inventors and entrepreneurs face significant risk during their development stages,” said Rob Ball, CEO of Genesis Innovation Group and fund manager of cultivate(MD). “Cultivate(MD) brings the necessary capital and access to an experienced team that will guide an innovation to market.

“In addition to financial capital, innovators need a network of intellectual capital that will help convert their ideas and assumptions into marketable innovations. Genesis provides a nurturing environment for health care innovations.”

Genesis

Genesis Innovation Group partners with businesses and surgeon-inventors to invest in and develop new medical technologies.

Some of the companies the group has worked with include Magnesium Development Company, Shoulder Innovations and iMAGEN Orthopedics.

Recent Articles by Justin Dawes

Editor's Picks

Comments powered by Disqus