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.
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
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