US-based medical device developer Genesis Innovation Group yesterday launched a $10m fund that will focus on the medical device and orthopaedic technology sectors.
The Cultivate(MD) Capital Fund is limited to private placements. It is likely to begin searching for investment opportunities at the start of 2018 and will target early, mid and later-stage companies.
Founded in 2013, Genesis partners companies and medical inventors to develop healthcare technologies, focusing on those at the seed and pre-seed stages.
Some of the firms it has previously invested in include Magnesium Development Company, a developer of metal alloys for surgical implants, and Shoulder Innovations, which has developed a glenoid platform to improve stability in shoulder arthroplasty.
Rob Ball, CEO of Genesis and fund manager of Cultivate(MD), said: “Healthcare is a dynamic space, and inventors and entrepreneurs face significant risk during their development stages, Cultivate(MD) brings the necessary capital and access to an experienced team that will guide an innovation to market.
“In addition to financial capital, innovators need a network of intellectual capital that will help convert their ideas and assumptions into marketable innovations. Genesis provides a nurturing environment for health care innovations.”