Eaton McGhie, formerly a Ladenburg Thalmann vet who now works in New York, said Bionx has yet to find a placement agent. The firm is spending the next six to eight months lining up LPs and anticipates a first close at some point within that timeframe, he said.
Bionx will make tech and life sciences deals, but will also pursue a broader mandate to include deals in other sectors as well, he said. McGhie is working with co-founder and partner Prakash Ragit, who is based in India and will concentrate on investments there and in New Zealand, McGhie said.
For its private equity-focused business, McGhie said, the firm will make deals ranging in size from $5 million to $10 million, as well as Series A and Series B investments on smaller targets.