Vensana Capital, which was launched by healthcare-focused venture firm Versant Ventures, has closed its debut fund at US$225 million. Vensana Capital I’s limited partners include public pensions, university endowments, foundations, academic health systems, family offices and fund-of-funds. The fund will invest in the medical tech sector. Versant’s offices include San Diego, San Francisco, Minneapolis, New York City and Vancouver, British Columbia.
MINNEAPOLIS & WASHINGTON–(BUSINESS WIRE)–Vensana Capital today announced the closing of its inaugural fund, Vensana Capital I, with $225 million in committed capital. The fund was oversubscribed, and it was raised from a broad range of institutional investors, including public pensions, university endowments, foundations, leading academic health systems, family offices, and fund-of-funds.
Vensana Capital is a venture capital and growth equity investment firm that seeks to partner with innovative medical technology companies in their clinical development and commercial stages. Medtech sub-sectors of interest to the firm include medical devices, diagnostics and data science, drug delivery, digital health, and tech-enabled services. Versant Ventures has supported the launch of the independent new firm and will continue to provide strategic advisory, fund administration, and operations support going forward.
Vensana’s team has a proven track record of identifying, financing, and building medtech companies to establish new standards of care in their field. Co-founders Kirk Nielsen and Justin Klein, M.D., J.D., were previously leading medtech-focused investors at Versant Ventures and New Enterprise Associates, respectively. In the aggregate, they have led capital raises for healthcare start-up companies in excess of $1B, with which entrepreneurs have obtained U.S. approval for nearly three dozen products that have treated hundreds of thousands of patients and have generated billions in cumulative revenue. Many of those innovations have been first- or best-in-class therapies supported by robust clinical evidence and have delivered bellwether exits within the sector.
“Our team aims to be the capital partner of choice for leading medtech entrepreneurs, investors, and strategics. Together, we share a deep, personal commitment to medtech entrepreneurship and innovation, and we believe in the opportunity to build great companies that can both improve the lives of patients and deliver exceptional returns for our partners,” said Managing Partner Justin Klein, M.D., J.D.
Vensana, whose name is derived from the Latin root for “health,” features an investment team that is led by Klein and Nielsen as Managing Partners and includes Principal Cynthia Yee and Senior Associate Greg Banker, as well as an advisory board comprised of senior operating executives, entrepreneurs, and policy experts from across the medtech sector.
“We are grateful for the trust and confidence of our limited partners, and for the support of the Versant team, in launching Vensana Capital,” said Kirk Nielsen, Managing Partner. “Medtech will continue to play a critical role in the healthcare system of the future, and we are excited to partner with entrepreneurs whose innovations will improve outcomes and lower the cost of care.”
“We are very proud of Vensana reaching this critical milestone and in the overall achievements of Kirk and Justin in launching this unique platform to foster development of novel products and valuable companies in such an important sector of the life science ecosystem,” said Brad Bolzon, Ph.D., Managing Director and Chairman of Versant.
About Vensana Capital
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana is actively investing in clinical development and commercial stage companies across the medtech sector, including medical devices, diagnostics and data science, drug delivery, digital health, and tech-enabled services. Vensana’s investment team has a history of successfully partnering with management teams behind industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Lutonix, Neuwave Medical, Sequent Medical, Topera, Ulthera, and Vertiflex. Learn more at www.vensanacap.com.
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm committed to helping exceptional entrepreneurs build the next generation of great companies. The firm’s emphasis is on biotechnology companies that are discovering and developing novel therapeutics. With $3.2 billion under management and offices in the U.S., Canada and Europe, Versant has built a team with deep investment, operating and R&D expertise that enables a hands-on approach to company building. Since the firm’s founding in 1999, 75 Versant companies have achieved successful acquisitions or IPOs. Versant is currently investing out of its seventh fund, Versant Venture Capital VII, a $600 million biotech fund closed in December 2018. Furthermore, the firm continues to invest out of its Canadian strategic fund called Versant Voyageurs I and its opportunity fund called Versant Vantage I. For more information, please visit www.versantventures.com.