HOLLAND – A West Michigan venture capital firm closed last week on $7.2 million of the $10 million it seeks to raise to invest in health care startups.
Formed last fall by Genesis Innovation Group LLC, a developer of emerging medical device technologies, cultivate(MD) Capital Fund GP LLC netted investments from about 50 individual investors. Many investors are individuals who invested previously in startups spun out of Genesis Innovation Group, said Robert Ball, CEO of Genesis and managing director of cultivate(MD).
The fund continues to seek additional investors through 2018 toward the $10 million goal and could make its first investment in a startup company within a couple of months.
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