Israeli med-tech venture capital firm Peregrine Ventures has closed its fourth fund, Peregrine 4, raising $115 million. The firm says that among investors in the new fund are institutional and private equity investors from Israel, the US, Europe and Australia.
Peregrine 4 will continue to invest in early-stage and late-stage rounds of medical technology startups. Peregrine now has over $200 million under management, and an equal amount available for co-investment, follow-on, and late stage investments in its portfolio companies from Peregrine 1, 2, and 3.
Peregrine Ventures has completed ten exits totaling more than $2 billion in cumulative value, among them from Valtech, Neovasc, B-Balloon, Eximo and Rocketick. The team, which includes Eyal Lifschitz, Boaz Lifschitz (founding partners), Lior Shahory, Tamir Tal, David Eldar and Tal Carasso, establishes startup companies based on industry needs that emerge from meetings held with global medical equipment companies. Among the examples of startups established in this fashion: Valtech Cardio, Memic, Cordio, Endomatic, Magneto and ArtFix.
Peregrine Ventures also owns and operates the Incentive Incubator, a partnership with the Israeli Innovation Authority that was established to incubate the most promising Israeli med-tech start-ups.
"The strong demand for investment in Peregrine 3, a $75 million fund closed two years ago, and Peregrine 4 is due to the trust and confidence of investors in both our team and investment model," Lifschitz said. "There is a huge demand, and opportunity, in medical technologies in Israel and foreign investors recognize this. We chose to limit the Peregrine 4 fund to $115 million since we believe this is the size that best suits our management team and abilities to find the best opportunities and take an active role in helping them achieve their goals."
Published by Globes, Israel business news - en.globes.co.il - on December 9, 2019
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