Ajax Health, the company formed in 2017 by a pair of private equity giants to manage their medical device investments, said yesterday that it added another $15 million to its second fund, taking the total to $100 million.
In April the Menlo Park, Calif.-based VC shop said it raised $85 million in a round led by HealthQuest Capital and joined by Aisling Capital and Polaris Partners. Yesterday the company said it raised more than $100 million for Ajax II and had already used it to back Cortica Inc. and Ablacon, which is developing AI-powered atrial fibrillation mapping technology.
“I am extremely grateful to our partners HealthQuest, Aisling and Polaris for backing Ajax II. These firms have been exceptional partners for a long time and I look forward to working with them again,” Ajax Health chair & CEO Duke Rohlen said when Ajax II was first announced.
Ajax Health has said that it will seek to invest in companies with disruptive medtech devices with its newly raised funds, focusing on businesses with a potential for high-exit demand where returns could be realized within 48 months.
In May 2017 KKR and Aisling Capital joined to launch Ajax, tapping Spirox chairman & CEO Rohlen to lead it. Rohlen is the former president of FoxHollow Technologies and the founder & former chief executive of CV Ingenuity.
Last July, Ajax said that it raised a Series B round of $120 million.