The chief executive of what was touted as a $100 million investment fund aimed in part at Ohio medical device companies has been indicted for his alleged role in the failure of a suburban Cleveland credit union.The indictment of 43-year-old businessman Eddy Zai, who was charged with 34 counts related to more than $16 million [...]

Medical device entrepreneurs in Ohio (and elsewhere) have a new source of capital to hit up: the recently announced $100 million Cleveland Bio Fund.The new fund, which is backed by Chinese investors, is planning to invest between $3 million and $8 million a pop in U.S. device companies, and hopes to enter into its first [...]