Participated · Series C · Oct 2025

VentureMed Group develops and commercializes endovascular technologies that address peripheral arterial disease (PAD) and arteriovenous fistula and graft (AVF/AVG) interventions. Its flagship product, the FDA 510(k)-cleared and CE-Mark–approved FLEX Vessel Prep™ System, employs Kinetic Endovascular Micro-incision Creation (KEMIC) to create precise micro-incisions, enhancing luminal gain, drug uptake, and long-term vessel patency while minimizing trauma. The device already carries a dedicated CMS HCPCS code (C1600) with transitional pass-through payment, positioning it for broader U.S. adoption. VentureMed plans to use newly raised capital to expand its commercial infrastructure, generate additional clinical evidence, and pursue new indications in adjacent vascular settings. Global market demand is driven by more than 20 million U.S. PAD patients and widespread dialysis-related access issues. The company remains privately held and has attracted repeat backing from institutional investors, most recently closing a $28 million Series C round to fund growth and product development.

Participated · Equity · Jul 2024

Kestra Medical Technologies develops wearable medical devices and digital healthcare solutions. The company reported strong commercial momentum and attractive unit economics, according to CEO Brian Webster, and plans to continue investing in growth strategies. The newly arranged term loan was used in part to retire a prior $45 million term loan and to cover fees and expenses. Kestra has access to staged tranches of capital that include funded and optional amounts, plus an acquisition-focused uncommitted tranche subject to lender consent. The financing structure includes interest-only payments for the first 48 months (with a possible 12-month extension tied to a revenue milestone) and interest at SOFR plus 5.5% with a SOFR floor of 3.25%.

Participated · Series B · Apr 2024

Miach Orthopaedics develops the Bridge-Enhanced ACL Restoration (BEAR®) Implant, a bio‑engineered product that facilitates healing of torn anterior cruciate ligaments rather than replacing them. The BEAR Implant acts as a bridge between ACL ends, uses a small amount of the patient’s blood to promote healing, and is resorbed as the ligament repairs. It received De Novo FDA approval in December 2020 and is indicated for skeletally mature patients (14+) with a complete ACL rupture and an ACL stump attached to the tibia. The company reports the BEAR Implant has been used to treat nearly 3,000 patients. Miach says the technology is a paradigm shift from ACL reconstruction because it avoids graft harvest or donor tendons and preserves the ACL’s native attachments. Current priorities include U.S. commercial expansion and clinical initiatives such as the Bridge Registry to gather real‑world outcomes. The company is privately held and located in Westborough, Massachusetts. Miach Orthopaedics is a privately held company in Westborough, Massachusetts, focused on bio-engineered surgical implants for connective tissue restoration, initially commercializing the BEAR Implant for ACL repair. The BEAR Implant is a bridge-enhanced, bio‑engineered device that, when combined with a small amount of the patient’s blood, facilitates healing of a torn ACL and is resorbed as the ligament heals. The device received De Novo FDA approval in December 2020 and is the first medical technology with Level 1 clinical evidence showing it enables the body to heal a torn ACL. Commercial launch began in fall 2021; more than 500 patients have been treated with the BEAR Implant commercially. The company says the BEAR procedure avoids harvesting or using donor tendon grafts and preserves the ACL’s original attachments. The recent financing will fund ongoing operations and expand the U.S. commercial rollout to bring ACL restoration to more patients. MIACH Orthopaedics is focused on the Bridge-Enhanced® ACL Repair (BEAR®), a proprietary bio-engineered sponge used as a bridging scaffold to stimulate healing of torn anterior cruciate ligaments. The BEAR technology has been tested in nearly 100 human patients under an FDA Investigational Device Exemption (IDE). Preclinical studies and the company’s clinical work suggest the BEAR procedure avoids graft harvest and may lower long-term arthritis risk versus conventional ACL reconstruction. MIACH plans to use new funding to accelerate manufacturing capabilities and continue U.S. clinical trials of BEAR. The company has received initial research funding from the NFL Players Association, Boston Children’s Hospital and the National Institutes of Health. MIACH is a privately held company located in Boston, Massachusetts.

Led · Equity · Nov 2023

Gynesonics develops minimally invasive, incision-free, uterus-preserving transcervical technologies for diagnostic and therapeutic applications, with a focus on treating symptomatic uterine fibroids. Its flagship product, the FDA-cleared Sonata System®, provides diagnostic intrauterine imaging and transcervical fibroid treatment and is CE-marked and approved for sale in the EU, UK, Switzerland, and the US. Sonata enables fibroid removal in roughly a 45-minute outpatient procedure, with most patients resuming regular activity the next day. The company is led by President and CEO Skip Baldino. Gynesonics intends to use the new funds to expand operations and broaden its business reach. Financially, the company has raised a total of $67.2M to date following the latest financing activity. Gynesonics develops minimally invasive, incision‑free, uterus‑preserving transcervical technologies; its flagship product is the Sonata System for diagnostic intrauterine imaging and transcervical treatment of symptomatic uterine fibroids. The Sonata System is FDA cleared, CE marked, and approved for sale in the United States, the European Union, and the United Kingdom. The company positions Sonata as a minimally invasive, incisionless alternative with proven clinical outcomes while noting common side effects and potential treatment risks. In early March Gynesonics appointed industry veteran Skip Baldino as President and CEO; he will also serve on the board, succeeding Christopher Owens. Gynesonics closed a $25M financing to help drive growth, accelerate adoption, and expand worldwide commercialization of the Sonata System. The company says its prior pivotal clinical trial, regulatory clearances, and initial product launch established a foundation of adoption and revenue growth to build on. Gynesonics develops minimally invasive, incision-free, uterus-preserving transcervical technologies for diagnostic and therapeutic applications in women’s health. Its core product, the Sonata System, combines real-time intrauterine ultrasound guidance with targeted radiofrequency ablation (RFA) to offer an incision-free, outpatient procedure for treating multiple uterine fibroid types. The company has secured FDA clearance for the Sonata System. The Sonata System is also CE marked and approved for sale in the European Union and the United States. Gynesonics is led by President and CEO Chris Owens. Financially, the company received a $50M senior secured term loan from Runway Growth Capital. Gynesonics develops minimally invasive, transcervical, uterus-preserving technologies, principally the Sonata System. The Sonata System combines the first intrauterine ultrasound with a proprietary radiofrequency ablation device to provide a transcervical, incision-free treatment for symptomatic uterine fibroids. Sonata enables targeting and optimizing ablations via the SMART Guide and is designed to access a wide range of fibroid types many current hysteroscopy methods cannot treat. The system has CE Mark approval for the European Union and received U.S. FDA 510(k) clearance in August. Gynesonics will use financing proceeds to launch global commercialization, further develop the Sonata technology platform, and fund additional clinical research to support reimbursement and market development. The company is headquartered in Redwood City, California and projects a $3 billion–$4 billion global market opportunity for Sonata, including more than $1 billion in the U.S. Gynesonics develops the Sonata™ System, a minimally invasive, incision‑free device that uses radiofrequency energy under intrauterine sonography guidance to ablate uterine fibroids. The Sonata system includes the SMART Targeting Guide and provides transcervical, uterus‑preserving access designed to avoid the peritoneal cavity. Sonata is CE marked and approved for sale in the European Union but is not available for sale in the United States; the company announced FDA approval of the SONATA IDE pivotal trial in October 2014. Gynesonics is privately held and headquartered in Redwood City, California. The company will use the financing to fund its strategic clinical plan, including current and future U.S. and global trials, as well as programs in operations, R&D, market adoption, and global regulatory and reimbursement efforts. The announcement cites the large, underserved market for symptomatic fibroids and the potential to reduce invasive procedures such as hysterectomy.

Led · Series C · Sep 2023

Virtual Incision is developing MIRA, a compact, drape- and dock-free miniaturized robotic-assisted surgery system designed to deliver internal triangulation and full wrist articulation inside the body. The device is lightweight and portable so it can be used in any operating room without a dedicated mainframe room. MIRA is an investigational device; the company completed an IDE clinical study for bowel resection and has a De Novo request under substantive FDA review. Virtual Incision holds over two hundred patents and patent applications and is focused on expanding access to RAS in routine and high-volume procedures, including outpatient and ambulatory settings. The company plans a limited launch of MIRA across select U.S. centers if marketing authorization is granted and will run a gynecologic clinical study planned for 2024. It is also developing a smaller minibot iteration with a first-in-human clinical study expected next year and will support a NASA–University of Nebraska–Lincoln collaboration to demonstrate telesurgery on the ISS. Virtual Incision is developing the MIRA (“miniaturized in vivo robotic assistant”) Surgical Platform, a small self-contained device inserted through a single midline umbilical incision to support multi-quadrant abdominal laparoscopic procedures. The technology is designed to work with existing minimally invasive tools and techniques, avoid the need for a dedicated operating room or specialized infrastructure, and to be significantly less expensive than existing robotic systems. The company recently reported the world’s first surgery using MIRA—a robotically assisted right hemicolectomy—performed under an FDA Investigational Device Exemption as part of a clinical study at a limited number of U.S. hospitals. Virtual Incision is developing a family of mini-robots for additional procedures including hernia repair, gallbladder removal, hysterectomy, and sleeve gastrectomy. The company holds foundational intellectual property with more than 200 patents and applications. Virtual Incision is headquartered in Lincoln, Neb., and recently raised financing to advance its regulatory, clinical, commercialization, and R&D programs. Virtual Incision develops the MIRA (“miniaturized in vivo robotic assistant”), a two-pound robotic platform for minimally invasive abdominal surgery. The company emphasizes MIRA’s portability and affordability compared with many existing, much larger surgical robots. VIC positions the device to expand access to minimally invasive procedures and improve patient outcomes. CEO John Murphy said the company believes the portable and affordable abdominal robot can bring these benefits to many more patients. The company plans an IDE clinical study with the FDA as the critical next step and will use recent funding to ready the device for commercialization. The latest financing brings the company’s total funding to $51 million. Virtual Incision is developing a small, self-contained robotically assisted surgical device (RASD) designed to be inserted through an umbilical incision to perform multi-quadrant abdominal procedures. The platform leverages artificial intelligence and machine learning to track and guide instrument usage and includes the company’s robotic flex tip laparoscope controlled by the surgeon. The company emphasizes compatibility with existing surgical tools and techniques and a design that does not require a dedicated operating room or specialized infrastructure. Virtual Incision says its technology has foundational intellectual property including over 140 patents and applications and was used outside the U.S. in 2016 in a safety and feasibility colon resection trial. The company is a University of Nebraska spinout based in Lincoln, Nebraska, and Pleasanton, California, and its devices are investigational and not commercially available. Virtual Incision recently raised an $18 million Series B to support development toward FDA 510(k) submission and near-term milestones including FDA clearance, U.S. team building, a surgeon training center at UNMC, and a China joint venture. Virtual Incision develops a first-of-its-kind miniaturized robotically assisted surgical device designed to be inserted in its entirety through a single abdominal incision to enable minimally invasive general surgery. The platform is designed to utilize existing tools and surgeon techniques, avoid dedicated operating-room infrastructure, and be significantly smaller and less expensive than current mainframe robotic systems. The company says the system could enable minimally invasive approaches to procedures that are typically performed open today, with potential to improve clinical outcomes and health-care costs. Its investigational device is supported by more than 90 pending and granted patents and 70 comparative medicine studies, and the technology is a spinout of the University of Nebraska. Virtual Incision plans to use the recently closed $11.2 million equity financing to fund a feasibility study of the robot for colon resection procedures. The device is not commercially available; the company is based in Lincoln, Neb. and Pleasanton, Calif.