GRAND RAPIDS — A venture capital firm that invests in medical device technologies wants to raise $30 million for a new fund to support portfolio companies progressing with commercializing their innovations.
Grand Rapids-based Genesis Innovation Group LLC’s cultivate(MD) Capital Accelerator Fund GP LLC has so far raised $7.75 million from 44 investors toward a $30 million goal, according to a May 5 regulatory filing with the U.S. Securities and Exchange Commission.
The fund’s formation follows a prior $10 million capital seed fund that Genesis Innovation Group created to make early stage investments in medical device startups.