Medical device investment group Versant Ventures is looking to raise a new $250 million fund, the group’s 5th fund so far.
The funding round should be a short one, although the 1st sale has yet to occur, according to regulatory filings. The group is offering pooled investment fund interests.
Although it’s headquartered on the West Coast, the new funding could be good news for Minnesota medtech companies, according to the Minneapolis/St. Paul Business Journal. Versant last year opened an office in Minneapolis in efforts to get closer to the local medtech base.
Medtech veteran James Mazzo, former head of Abbott Medical Optics, joined Versant in July of this year as the group’s 1st “operating partner.”