A Dallas investment firm that focuses on funding medical technology companies will be investing millions in companies that are showcasing beneficial products and technologies in the health-care industry, according to D CEO Healthcare’s Olivia Nguyen.
Green Park and Golf Ventures has closed on a third of it’s $30 million follow-on investment fund, D CEO Healthcare reported. From a portfolio of 40 seed and startup investments, the group will choose a select group of companies to receive extra funding.
The firm hopes to bring about 15 to 20 new investments over the next four to five years, D CEO reported. The full follow-on fund should close by December.
THE FUND SEEKS COMPANIES TRYING TO COMPLETE STUDIES
The bulk GPG investments have gone to medical technology devices, founding partner Carl Soderstrom told MedCity News. Soderstrom also serves as the co-founder of health-care accelerator, Health Wildcatters.
GPG told D CEO, they are seeking companies that are “currently raising money to complete pivotal studies of safety and effectiveness.”
The follow-on will continue GPG’s commitment to its portfolio. 70 percent of GPG’s investees have received follow-on funding, according to MedCity News.
Dr. Clay Heighten, founding partner of GPG, told D CEO, the company has seen “very strong successes within our existing portfolio, and [is] eager to continue to expand and invest in our best performing healthcare startups.”
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