Grand Rapids venture capital firm, Hopen Life Science Ventures ...

Mark Olesnavage

has formed a second fund that has already made four initial investments as it seeks additional investors.The Grand Rapids-based venture capital firm today reported the initial closing of the $25 million Hopen Life Science Fund II, which remains open for new limited partners. The firm aims to grow Fund II to $50 million by January 2012 and make eight to 12 investments over four to five years in Midwest companies developing new drugs, medical devices, diagnostics and related technologies.?Similar in focus to our first fund, Fund II will target early-stage life science companies with remarkable innovations that lead to improved health care outcomes and/or reduced health care system costs,? Managing Director mark Olesnavage said. ?We primarily focus on companies in the Midwest, pragmatically leveraging the firm?s existing local, regional, national and global life science resource network to support our portfolio companies.?

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Olesnavage calls the four companies ?the type of market-leading innovators we expect to fill our Fund II portfolio.?Hopen Life Science?s first fund, a closely held fund launched in 2006 by five investors, has seven companies in its portfolio that collectively received $20 million.

Grand Rapids venture capital firm, Hopen Life Science Ventures, reports initial close on new fund

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Source: http://www.business4noobs.com/grand-rapids-venture-capital-firm-hopen-life-science-ventures-reports-initial-close-on-new-fund/

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