Venture capital firm launches $50m fund for medtech

 

The private investment and venture capital firm Venturecraft Group has started a $50 million fund to invest in medical and infocomm technology companies that are still in their early stages.

It is Venturecraft’s second fund, and comes after it was recently appointed as an accelerator for the medical technology (medtech) industry under Spring Singapore’s Sector-Specific Accelerator programme.

That programme involves Spring’s investment arm Spring Seeds Capital co-investing in high-potential medtech start-ups with Venturecraft.

Medtech is a key sector within the biomedical sciences industry with strong potential for growth, noted Spring Seeds Capital general manager Johnny Teo in a statement yesterday.

“Medtech accelerators such as Venturecraft Group play an important role in the local start-up eco-system by providing critical support such as capital, regulatory advice, as well as access to markets,” he said.

START-UP LIFELINE

Medtech accelerators such as Venturecraft Group play an important role in the local start-up eco-system by providing critical support such as capital, regulatory advice, as well as access to markets.

SPRING SEEDS CAPITAL GENERAL MANAGER JOHNNY TEO

With Spring’s support, Venturecraft plans to focus on identifying co-investing opportunities in cutting-edge innovations within the medtech sector, particularly in the areas of in-vitro diagnostics, diagnostics devices, interventional medical devices and healthcare technology and analytics.

Even before the launch of this fund, Venturecraft, using its $4 million working capital, had invested in several tech start-ups with potential applications in the medtech field, such as AIM Biotech, which makes 3D multicellular biological models for research, drug discovery and clinical diagnostics.

The second fund has already invested in MiRXES, an A*Star start-up with a technology to advance the field of cancer diagnostics.

MiRXES co-founder and chief technology officer Zhou Lihan said: “Outside of the controlled lab environment, scientists often need a little assistance to adjust to the unpredictable commercial nature of business development. Venturecraft’s investment offers a double boost to our venture, as we get not only critical financing but also access to regulatory expertise and industry leaders who could pave the way for our entry into key markets.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s