Accelmed seeks to raise $100 million for fourth
health tech fund
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[October 07, 2019]
JERUSALEM (Reuters) - Accelmed, a
U.S.-Israel group of funds investing in medical device and digital
health companies, said on Monday it was establishing a new fund with the
aim of raising and managing $100 million.
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 The Accelmed Ventures II fund will invest in Israeli and global
pre-revenue health tech startups. Vincent Tchenguiz, a British
businessman born in Iran, has committed to invest $15 million in the
fund.
This is the fourth fund established by the Accelmed group, which
manages more than $300 million through Accelmed Ventures and private
equity fund Accelmed Partners.
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Accelmed Ventures I, which was established in 2011, has had a number
of exits, including Eximo Medical, purchased by AngioDynamics Inc
for $66 million. Portfolio company Endospan signed an option
agreement to be acquired by CryoLife Inc for up to $450 million,
pursuant to receiving approval by the U.S. Food and Drug
Administration.
(Reporting by Steven Scheer; Editing by Tova Cohen)
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