Michigan Biotechs Might Be Saved, New Fund Closes
February 17, 2009 at 7:31 am EST | Tags: Private Equity & Venture Capital
Ann
Arbor, Michigan based Arboretum
Ventures has just closed its second fund in 4 years. Arboretum just
announced that they have secured a $73M fund backed by existing
investors, as well as newcomer the Renaissance Venture Capital Fund.
Arboretum has made almost an astronomical return for its investors. The fund’s first portfolio included companies such as HealthMedia and Esperion Therapeutics. Johnson & Johnson acquired HealthMedia in October 2008, providing Arboretum with a 10X return.
Arboretum’s managing directors are Jan Garfinkle and Tim Petersen and focus mainly in the medical device and healthcare IT sectors.
Congrats!
Image from arboretumvc.com
![[Loading...]](http://www.iguanabio.com/wp-content/themes/IguanaBio/images/ajax-loader.gif){kind=small}
