Good news for life science startups in Florida, Georgia, Virginia and other emerging hubs in the southeast U.S.: A large VC focusing its investments on information technology and healthcare is raising a new $125 million fund.
This will be the firm’s third fund; with its first two, closed in 2004 and 2009, it invested more than $150 million in 24 early growth stage IT and healthcare companies, according to its website.
Like many other VC firms, Harbert says it looks for seasoned entrepreneurs building early growth stage companies in large and growing markets. Areas of focus in healthcare include medical devices, healthcare IT, healthcare services and diagnostics, and Harbert’s initial investments range from $1 million to $4 million in companies.
A call to the firm was not immediately returned.