September 12, 2011 @ 9:33 am
Ann Arbor, MI (September 8, 2011) – Arboretum Ventures, a leading venture capital firm specializing in early-stage healthcare investments, today announced the final closing of its third investment fund with capital commitments totaling $140 million, above the $125 million target for the fund. The firm now has $235 million in capital under management, and has invested in 25 different healthcare companies over the past nine years. Arboretum III will be invested in healthcare companies located across the U.S., with particular focus on the Midwest, where the combination of strong investment opportunities and a relative shortage of venture capital creates the potential for outstanding investment returns.
“We are pleased to have exceeded our fundraising target for Arboretum III in what remains a challenging venture capital fundraising environment. We are gratified by the support of our returning investors, and welcome several new investors to Arboretum III,” said Managing Director Jan Garfinkle.
“In the past three years, several companies in our previous two funds have been acquired by large healthcare companies in significant cash transactions,” said Managing Director Tim Petersen. “These exits certainly boosted our fundraising efforts, allowing us to attract new institutional capital from across the U.S.”
Arboretum will continue to focus on companies developing innovative healthcare products that not only improve patient care but also reduce the cost of healthcare delivery. “The opportunity for innovation to support a more efficient and cost-effective healthcare system has never been greater,” according to Arboretum Principal Paul McCreadie. For example, Mr. McCreadie recently led Arboretum’s investment in Wellfount Corp., an Indiana-based pharmacy services provider offering a technology-enabled solution to reduce cost and improve patient safety in long-term care facilities.
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