New Fund Raises $162M to Invest In 17 Israel BioMed Companies

ScpvitalifeSCPVitalife Fund is a new Israel venture capital capital that has just raised a whole lot of money to invest in Israel’s promising biomed startups. Jeff Dykan, Managing Director of the fund said they “planned to raise $150 million but the fund is already oversubscribed at $162 million,” and that they may end up turning away investors because they “won’t go over $200 million.”

Two large American pension funds, the Massachusetts State Pension Fund and the NY State Common Pension Fund, have taken stakes in the fund, eager to be part of Israel’s success in the biomed field. SCPVitalife Fund has a proven record with a string of successes, from the recent $140 million sale of Sightline, a developer of “new flexible endoscope for gastro-intestinal procedures”, to the sale of ColBar LifeScience Ltd. to Johnson & Johnson for $159 million. ColBar developes “artificial collagen matrices for use in implants instead of live tissue.”

The fund is currently reviewing numerous business plans and companies for investment consideration. According to “the fund has already invested in Niti Medical Technologies which is developing technology for improving surgical compression procedures and Regentis Biomaterials which is developing materials for bone, spine and cartilage repair.”

For more info check out this article from Israel21c.