Lightstone Ventures is ready to make some disruptive companies with its newly raised $172 million medtech and lifesciences fund, saying that market outlooks are promising for new products.
The new raise tallies Lightstone’s "largest, 1st-time, U.S. life sciences venture fund raised in over 2 years," and the investment firm already has some companies on the bankroll. Lightstone made unquantified investments in a trio of companies, including hearing technology maker EarLens, therapeutic devices maker FIRE1 and biopharmaceutical firm Catabasis.
Lightstone has invested in Ireland-based FIRE1 before, having joined in on a Series A funding round that also drew Covidien (NYSE:COV) and New Enterprise Associates. EarLens has brought in funding from the likes of Medtronic (NYSE:MDT), which participated in the company’s Series A funding round.
"Our strategy is to invest in life science companies with novel, disruptive technologies led by exceptional entrepreneurs," Lightstone founding general partner Mike Carusi said in prepared remarks. "We see tremendous opportunity in our focus areas thanks to a reinvigorated biotech and device IPO market, improvements at the FDA, greater clarity with the Affordable Care Act, and interest from the large corporate players to invest in and acquire innovative venture-backed companies."
