Peregrine Ventures, a leading Israeli tech venture capital fund, announced on Monday that it raised $115 million for its fourth fund, Peregrine 4, focused on investments in medical technology startups in all stages.
Founded in 2001, Peregrine says it has over $200 million under management, and another $200 million for co-investment, follow-on, and late-stage investments in its portfolio companies from Peregrine funds 1, 2, and 3. Among its portfolio companies are CartiHeal, which develops technology in the field of cartilage regeneration, Cordio Medical, a company that developed tech for monitoring of patients with chronic heart failure, and Eximo Medical, which makes hybrid catheter technology for interventional procedures.
Peregrine also owns and operates the Incentive Incubator for Israeli med-tech start-ups, in partnership with the Israeli Innovation Authority.
The company says its partners include some of the leading institutional and private equity investors from Israel, the United States, Europe, and Australia.
“The greatest investment opportunities today are in the med-tech and life science fields in Israel, where we have been successfully investing since 2001,” said Eyal Lifschitz, managing partner at Peregrine.
“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,” he added.