BioStar Capital in Petoskey Closes $130M Fund in Medical Sector

BioStar Capital in Petoskey, a strategic venture capital firm focusing on transformative medical technologies primarily in the fields of cardiovascular disease, orthopedics, and robotics, has announced it has closed its fifth fund at $130.3 million, more than its three previous funds combined.
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futuristic medical bed
Medical technology investor BioStar Capital in Petoskey has closed its fifth fund at $130.3 million. // Stock photo

BioStar Capital in Petoskey, a strategic venture capital firm focusing on transformative medical technologies primarily in the fields of cardiovascular disease, orthopedics, and robotics, has announced it has closed its fifth fund at $130.3 million, more than its three previous funds combined.

Led by founder Dr. Louis Cannon, a cardiovascular physician, innovator, and educator, as well as Dr. Alan Davis, an orthopedic surgeon and now Emeritus Staff at The Cleveland Clinic, BioStar Capital’s Fund V portfolio includes numerous innovative medical device companies.

Amplitude Vascular Systems is developing an intravascular lithotripsy device for treating heavily calcified arteries while Medical Microinstruments has successfully commercialized its revolutionary robotic device that represents the only robot that permits doctors to operate at microsurgical levels for precision reconstruction of small blood vessels, nerves, and lymphatics using the world’s smallest wristed surgical instruments.

In addition, there’s REVA Medical, which has developed the MOTIV Bioresorbable Scaffold that is designed to treat below-the-knee peripheral artery disease and is the first bioresorbable scaffold to obtain CE Mark approval for treating this disease, and Versa Vascular, currently developing a non-tissue, non-mechanical, catheter-delivered implant for treating tricuspid valve regurgitation.

BioStar expects to invest in 8-10 additional companies over the next five years.

“We have been encouraged by the level of optimism from investors in support of our differentiated strategy, which identifies transformative medical devices that solve unmet clinical needs and advance the healthcare frontier forward, as evidenced by our investments to date,” says Davis, managing director of BioStar Capital.

In a time of declining investments in venture capital, BioStar officials state the closing overcame current environmental challenges, demonstrating investor confidence in the firm’s model of leveraging physician, as well as financial and operational expertise in today’s dynamic health care environment.

While other venture capital firms are shifting their focus to areas such as cardiovascular medical devices, few have the decades of experience and clinical expertise that BioStar offers through its team of Medical Venture Partners (“MVPs”) and network of physician investors, the company states.

In addition to a commitment to financial returns, BioStar’s mission is to improve patient outcomes in the areas of greatest medical need resulting in a positive impact on health care throughout the world.

BioStar Capital invests in and nurtures transformative medical technologies. For more information, visit biostarcapital.com.