Yankee Equity Solution has launched its debut medical technology fund with $50 million from a single undisclosed limited partner.
The fund structure, with only one limited partner, allows Yankee Equity to be “flexible, patient and focused”, managing director John Williams said in a statement, adding that the firm is free from “rigid charters and institutional constraints that require rapid returns”.
Prior to joining Yankee Equity, Williams built and sold several publicly and privately held healthcare companies.
The vehicle will target Massachusetts-based medical technology companies for the purpose of expanding their commercialisation efforts. The companies must have at least $10 million in annual revenues and a minimum EBITDA of $2 million as well as the potential to be either number one or two in their market, according to the firm.