Arboretum Ventures makes 2nd investment, plans for 1-2 more

Venture capital is far from dead in Ann Arbor these days. Arboretum Ventures announced its second new investment last week, bringing its total investment so far for this year to $5 million.The Ann Arbor-based venture capital firm still expects to make 1-2 more investments before the end of 2009. So far it has invested in Aptus Endosystems and CerviLenz.”We’re still actively investing,” says Tim Petersen, managing director of Arboretum Ventures. “There are some venture capital funds that are laying low because of the economy of they don’t have the capital.”CerviLenz is a manufacturer and distributor of a disposable device used to predict the risk of preterm birth in pregnant women. Arboretum Ventures investment is part of $4 million the Ohio-based company raised during its initial round of venture funding. Louisville-based Chrysalis Ventures also invested in the financing.Arboretum Ventures focuses mainly on investing in up-and-coming companies that make medical devices. Peterson and Jan Garfinkle formed the firm in 2002. It recently closed a $74 million fund.Source: Tim Petersen, managing director of Arboretum VenturesWriter: Jon Zemke