ATLANTA, Nov. 8 /PRNewswire/ -- Accuitive Medical Ventures, L.L.C., a medical device-focused venture capital firm, today announced the final closing of AMV Partners I, LP, its inaugural $55 million venture capital fund. “This is truly a great combination of investors and entrepreneurs,” said Tom Weldon, Chairman and Managing Director in Accuitive’s Atlanta office. “We are extremely pleased to be associated with such a prestigious group of limited partners which includes Grove Street Advisors, a fund of funds managing money for CalPERS and NIB, the Duke Family Endowment, General Motors, Brooke Private Equity Associates and Whitehall Associates.”
The fund, which will provide growth equity capital to early stage medical device companies throughout the United States, brings an extremely unique and innovative model to the medical device community. Accuitive has partnered with the highly successful medical device incubator, The Innovation Factory ( http://www.innofactory.com/ ), to provide deal flow and leverage The Innovation Factory’s significant company-building experience.
The fund has a highly focused target market and investment model. Accuitive targets the traditional medical device markets like cardiology and orthopedics, but additionally has strong interest in areas such as ophthalmology, cosmetic surgery and obesity products. “With our partner, The Innovation Factory, we have a wider set of options for how we structure deals with entrepreneurs,” said Mike Partsch, Managing Director in the Orange County, CA office. “We like to think that there is no idea that is too early- stage for us.”
Success in the medical device industry is often associated with the intersection of innovation and market presence. “Having locations in Atlanta, Southern California and Minnesota will allow us to mine some of the best medical device communities in the country,” added John Deedrick, Managing Director in Accuitive’s Minnesota office. Accuitive has five managing directors in their three locations: John Deedrick, Charlie Larsen, Mike Partsch, Steve Waite and Tom Weldon. Gerard van Hamel Platerink has joined the team as a Principal in the Atlanta office.
Accuitive has made five investments to date, including: LipoSonix ( http://www.liposonix.com/ ), Inogen ( http://www.inogen.net/ ), AcuFocus ( http://www.acufocus.com/ ), NeoVista and Cellutions.
Contact Info: Gerard van Hamel Platerink 2750 Premiere Pkwy, Suite 200 Duluth, GA 30097 (678) 812-1101 gerard@amvpartners.com John Deedrick 3652 Hermann Court NE Rochester, MN 55906 (507) 529-4003 john@amvpartners.com Mike Partsch 795 Promontory Drive West Newport Beach, CA 92660 (949) 706-7133 mike@amvpartners.com
Accuitive Medical Ventures, L.L.C.
CONTACT: Gerard van Hamel Platerink, +1-678-812-1101, orgerard@amvpartners.com , or John Deedrick, +1-507-529-4003, orjohn@amvpartners.com , or Mike Partsch, +1-949-706-7133, ormike@amvpartners.com , all of Accuitive Medical Ventures, L.L.C.