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

vitalifeSCPVitalife 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. SPCVitalife 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 bioisrael.com “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.

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NOTE:

This article was contributed by Dani Dechter, who I’m thrilled to welcome to the VC Cafe team. Dani will be covering Israeli healthcare and biotech news on VC Cafe. Dani is an American-Israeli student in Ben Gurion University’s Honors MBA Program. He was born and raised in the U.S. and received a B.A. in Economics from U.C. Berkeley. Be on the lookout for his posts.

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Co Founder and Managing Partner at Remagine Ventures
Eze Vidra is the founder of VC Cafe and the co-founder and managing partner of Remagine Ventures, a pre-seed fund investing in ambitious founders at the intersection of AI, technology, entertainment, gaming, and commerce with a spotlight on Israel.

He is a former General Partner at Google Ventures (GV) in Europe, former head of Google for Entrepreneurs in Europe, and founding head of Campus London, Google's first startup hub. Eze writes on Israeli tech, venture capital, artificial intelligence, and founder strategy.

He is also the founder of Techbikers, a nonprofit that brings together the startup ecosystem on cycling challenges in support of Room to Read.
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