Versant Ventures said today that it completed the closing of the Vensana Capital fund, a venture capital and growth equity investment firm dedicated to the medtech sector with more than $200 million in committed capital.
Vensana Capital intends to use its $225 million in funding to partner with medtech companies in their clinical development and commercial stages. The firm will be led by Kirk Nielsen and Dr. Justin Klein. Nielsen previously led medtech-focused investments at Versant, while Klein did the same at New Enterprise Associates.
San Francisco-based Versant Ventures said it raised the oversubscribed fund for Vensana Capital from a range of institutional investors, including public pensions, university endowments, foundations, academic health systems, family offices and fund-of-funds.
Versant also said its investment team intends to collaborate with Vensana’s on “any new opportunities that cross over the biotechnology and medtech sectors,” while it also plans to provide back-office support for the new medtech fund.
“We are grateful for the trust and confidence of our limited partners, and for the support of the Versant team, in launching Vensana Capital,” Vensana managing partner Nielsen said in a news release. “Medtech will continue to play a critical role in the healthcare system of the future, and we are excited to partner with entrepreneurs whose innovations will improve outcomes and lower the cost of care.”
“We are very proud of Vensana having reached this critical milestone and the overall achievements of Kirk and Justin in launching this unique platform to foster development of valuable new companies in an important yet underserved sector of the life science ecosystem,” added Brad Bolzon, managing director & chairman of Versant. “While Vensana will take an independent course, we look forward to maintaining our collaborative relationship for many years to come.”