Venture capital group Medical Technology Venture Partners has raised approximately $24.8 million for a medtech-focused fund, according to recently posted SEC filing.
The fund is looking to raise an additional approximate $35.3 million, with the first contribution to the fund noted on March 24, 2017, according to the SEC filing.
The venture group reportedly looks to fund and support medical technology entrepreneurs, claiming to have overseen the “conception, development, and launch of over 30 medical devices and diagnostic products,” according to its website.
The fund is partnered with the University of California San Francisco and its QB3 and Rosenman Institute, but said it is not limited to only UCSF companies.
MTVP said that fund managers or related parties will be “entitled periodically to receive customary management & performance fees as described in the offering documents of the issuer,” according to the filing.