NDI Medical is already more than halfway toward its goal of raising a new health care fund, less than a month after launching the effort, according to a filing with the Securities & Exchange Commission.
NDI has set out to raise million for a fund to develop neurodevice technologies. It has already raised just under $26 million from 48 investors, according to the SEC. The fund’s minimum buy-in is $50,000.
NDI Medical, with offices in Cleveland and Chapel Hill, N.C., said at the end of January that it had raised $8 million in equity investments and via an Ohio state grant. NDI has partnered with Ohio before, reeling in $7 million in grants from its Third Frontier Program, as well as the National Institutes of Health.
NDI has some wins to point toward when courting investors. In 2008, the investment firm sold its MEDSTIM urinary incontinence system to Medtronic in a $42 million deal.
NDI didn’t respond to a request for comment.