BioStar Ventures Raises $68.6M Fund for Med-Tech Companies

BioStar Ventures has raised a $68.8 million third fund, its largest to date, and plans to invest the money in as many as 18 emerging med-tech companies during the next five years, the firm said in a statement today. Its first two funds totaled $65 million.

The firm has previously invested in 30 companies, including ultrasound technology business Kona Medical and Kalamazoo, MI-based Ablative Solutions. Based in Petoskey, MI, BioStar typically makes initial investments of $1 million and invests $2 million to $6 million during the life of an investment.

David Holley is Xconomy's national correspondent based in Austin, TX. You can reach him at dholley@xconomy.com Follow @xconholley

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