Health Care VC NDI Quickly Raises More than Half of New Fund
At the end of last month, NDI Medical announced it would launch a healthcare venture fund to develop neurodevice technologies. Already, it’s well on its way, according to a filing with the Securities & Exchange Commission. Of the $50 million NDI is seeking, it smashed halfway through that target in fairly short order, corralling just under $26 million from 48 investors. The fund’s minimum buy-in is $50,000. NDI Medical, with offices in Cleveland, Ohio, and Chapel Hill, North Carolina, stated just at the end of January that it 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...
7 February 2011•1 min read
