Though lots of venture capital for medtech has evaporated, Versant Ventures now seeks $250 million for its fifth medtech fund. The venture capital firm, which has strong presence in biotech and medtech, has a diverse California and Minnesota-based portfolio that includes medical device companies such as Respicardia, Zyga Technology and Autonomic Technologies.
According to a regulatory filing made with the SEC, the VC firm has yet to secure any of this fund yet.
It’s also interesting to note the company’s previous medtech fund, closed in 2008, sought double the money: $500,000, according to Thomson Reuters. Does this show some conservatism on the part of this VC?
Directors who will manage the fund listed on the regulatory filing include CFO Robin Praeger; Bradley Bolzon, formerly of Roche and Eli Lilly; VV Co-Founder Samuel Colella; VV Co-Founder Dr. Ross Jaffe, formerly of Brentwood Venture Capital; William Link, formerly of Brentwood Venture Capital; Kirk Nielsen, formerly of Medtronic (MDT) cardiac rhythm management sales and Bain & Company; and Charles Warden, formerly of SV Life Sciences and Boston Capital Ventures.
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