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Peregrine Ventures raises $115m

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Peregrine Ventures said today that it has raised $115 million for its fourth medtech fund.

The raise brings the Israel-based VC firm’s total managed funds and co-invest capital to $400 million, the company noted.

Peregrine 4 will continue to invest in early-stage and late-stage rounds of medical technology startups, the company said in a news release. Peregrine now has more than $200 million under management, and an equal amount available for co-investment, follow-on, and late stage investments in its portfolio companies from Peregrine 1, 2 and 3.

“The greatest investment opportunities today are in the med-tech and life science fields in Israel, where we have been successfully investing since 2001,” said managing partner Eyal Lifschitz.

Peregrine has completed 10 exits totaling more than $2 billion in cumulative value, including Valtech, Neovasc, B-Balloon, Eximo and Rocketick. The company also had strong demand for investment in its third fund two years ago, according to managing partner Eyal Lifschitz.

“There is a huge demand, and opportunity, in medical technologies in Israel and foreign investors recognize this,” Lifschitz said. “We chose to limit the Peregrine 4 fund to $115 million since we believe this is the size that best suits our management team and abilities to find the best opportunities and take an active role in helping them achieve their goals.”

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