Makaira Formed To Invest In Early-Stage Med Device Cos
Yesterday I wrote about a stealthy new buyout firm, so today it's only appropriate that I write about a stealthy new venture firm (given peHUB's charter to cover both markets, and all). The newbie is Makaira Venture Partners, a Stoughton, Mass.-based shop that will focus on early-stage medical device and other non-pharma life sciences opportunities. It's the outgrowth of an in-house incubator/accelerator program at STD Medical Inc., a 50-year-old medical device manufacturer whose clients include Boston Scientific (and whose acronym is quite unfortunate). The STD incubator (wow, that sounds disgusting) was mostly funded by angels and local VC firms, but the independent Makaira plans to raise around $50 million for its debut fund (PPM in process). It will hit up both high-net-worths and more traditional LPs (endowments, foundations, pensions, etc.), with formal marketing expected to begin shortly.
