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Laxman Pai, Opalesque Asia: Accelmed, a New York- and Herzliya, Israel-based group of funds investing in health tech companies in the fields of medical device and digital health, is establishing a new venture capital fund to raise and manage approximately $100m.
The U.S.-Israel group of funds said in a press note that the Accelmed Ventures II fund will invest in Israeli and global pre-revenue health tech startups.
Dr. Uri Geiger, Founder and Managing Partner at Accelmed, will head the investment committee of the new fund, which has already received a commitment from an anchor investor, Consensus Business Group Ltd. led by the British businessman Vincent Tchenguiz.
This is the fourth fund established by the Accelmed group, which currently manages over $300 million through Accelmed Ventures and the private equity fund, Accelmed Partners.
The new fund is being launched in parallel to the fruition of portfolio companies in Accelmed Ventures I, the Group's current venture capital fund, which was established in 2011 by Uri Geiger and Mori Arkin together with Migdal Group.
Accelmed accomplished several exits to date, the most recent being that of Eximo Medical, its portfolio company based in Rehovot, Israel, which was purchased by AngioDynamics Inc. (ANGO), for $66 million.
"In recent years there is increased global demand for breakthrough technological healthcare solutions, due to increasing expenditure, estimated at trillions of dollars in th...................... To view our full article Click here
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