Sep-2019
Versant Ventures Enables Launch of Vensana Capital to Focus on Medtech Sector
Since it was conceived, Versant Ventures has provided enabling support for the design and launch of an independent new venture capital and growth equity investment firm dedicated to the medtech sector. Today Vensana Capital debuted with the closing of its inaugural fund, Vensana Capital I, with $225 million in committed capital. The fund was oversubscribed, and it was raised from a broad range of institutional investors including public pensions, university endowments, foundations, leading academic health systems, family offices and fund-of-funds.
Vensana Capital seeks to partner with innovative medical technology companies in their clinical development and commercial stages. Vensana’s team has a proven track record of identifying, financing, and building medtech companies to establish new standards of care in their field. Co-founders Kirk Nielsen and Justin Klein, M.D., J.D., were previously leading medtech-focused investors at Versant and New Enterprise Associates, respectively.
“We are grateful for the trust and confidence of our limited partners, and for the support of the Versant team, in launching Vensana Capital,” said Kirk Nielsen, Managing Partner of Vensana. “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,” said Brad Bolzon, Ph.D., Managing Director and Chairman of Versant. “While Vensana will take an independent course, we look forward to maintaining our collaborative relationship for many years to come.”
Kirk will continue to manage his existing medtech portfolio companies across previous Versant funds. The Versant and Vensana investment teams intend to collaborate on any new opportunities that cross over the biotechnology and medtech sectors. Furthermore, the Versant finance organization is providing back office support for the new medtech fund.
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm committed to helping exceptional entrepreneurs build the next generation of great companies. The firm’s emphasis is on biotechnology companies that are discovering and developing novel therapeutics. With $3.2 billion under management and offices in the U.S., Canada and Europe, Versant has built a team with deep investment, operating and R&D expertise that enables a hands-on approach to company building. Since the firm’s founding in 1999, 75 Versant companies have achieved successful acquisitions or IPOs. Versant is currently investing out of its seventh fund, Versant Venture Capital VII, a $600 million global biotech fund closed in December 2018. In parallel the firm co-invests out of its Canadian strategic fund Versant Voyageurs I and its later-stage biotech opportunity fund Versant Vantage I. For more information, please visit www.versantventures.com.
About Vensana Capital
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana is actively investing in clinical development and commercial stage companies across the medtech sector, including medical devices, diagnostics and data science, drug delivery, digital health, and tech-enabled services. Vensana’s investment team has a history of successfully partnering with management teams behind industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Lutonix, Neuwave Medical, Sequent Medical, Topera, Ulthera, and Vertiflex. Learn more at www.vensanacap.com.
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