CAZ Investments raised a nearly $29 million funding round it plans to use to back medical companies that already have products on the market.
The Houston-based asset management firm reeled in $28.7 million from 61 unnamed investors, according to a regulatory filing.
CAZ Investments chairman Christopher Zook said the firm plans to use the cash to invest in commercialized companies.
"For this fund, we don’t have as long a lag time. Typically, when you make a venture capital investment it’s a concept and you have to wait for it to go through the entire process. We’re investing only in products in the marketplace already generating revenue," Zook told the International Venture Capital Post.
Will new SEC rules kill angel investing?
New rules adopted by the SEC could threaten angel investing in startups, according to the Angel Capital Assn., including a ban on self-accreditation by potential investors.
VC-backed IPOs up during Q2
Venture capital-backed initial public offerings were up during the 2nd quarter, with 22 firms with VC backers went public for a total valuation of roughly $9.6 billion.
- Allscripts (NSDQ:MDRX): ISI Group downgrades from “buy” to “neutral” rating, raises price target to $16.50 from $15.50.
- C.R. Bard (NYSE:BCR): Atlantic Securities initiates coverage with “neutral” rating, $115 price target; Morgan Stanley reiterates "underweight" rating.
- Cerner (NSDQ:CERN): First Analysis downgrades from “overweight” to “equal weight” rating.
- Danaher (NYSE:DHR): Morgan Stanley reiterates "overweight" rating, raises price target from $68 to $72.
- Fresenius (NYSE:FMS): Jefferies Group upgrades from “hold” to “buy” rating.
- Hologic (NSDQ:HOLX): Piper Jaffray downgrades to "neutral" from "overweight" rating, $21 price target.
- Intuitive Surgical (NSDQ:ISRG): Leerink Swann maintains “market perform” rating.
- Johnson & Johnson (NYSE:JNJ): Deutsche Bank downgrades to "neutral" from "buy" rating, $93 price target; Jefferies raises price target to $95, ups estimates, sets "hold" rating; Leerink Swann reiterates “outperform” rating, raises price target to $98 from $94.
- Mallinckrodt plc (NYSE: MNK): UBS AG initiates coverage with “neutral” rating, $43.00 price target.
- NuVasive Inc. (NSDQ:NUVA): BMO Capital Markets downgrades from “market perform” to “underperform” rating, raises price target from $18 to $22
- Optos plc (LON:OPTS): Canaccord Genuity reaffirms "buy" rating, £2.48 ($3.75) price target
- ResMed (NYSE:RMD): Needham & Co. initiates coverage with “hold” rating.
- Stryker (NYSE:SYK): TheStreet reaffirms "buy" rating.
- Sunshine Heart (ASX:SHC): Oppenheimer initiates coverage with "outperform" rating, $11 price target.
- Volcano (NSDQ:VOLC): Oppenheimer initiates coverage with "outperform" rating, $24 price target.