Ann Arbor’s EDF Ventures secures funding for 2 firms
Ann Arbor’s EDF Ventures is scoring some investment hits on the road these days.The downtown-based venture capital firm recently announced that it helped line up millions of dollars in VC cash for two of the firms it has under its wings. That includes $22 million in Series B stock financing for California-based ValenTx and the third tranche of funding for Byron Center-based TransCorp. Nearly 1-year-old TransCorp develops surgical instruments for neurosurgical and orthopedic applications. ValenTx develops a less-invasive, implantable medical device to address morbid obesity. EDF Ventures has about $170 million worth of assets under management and has organized four investment funds since 1987. About a third of those are based in Michigan. Today the company employs five members and one intern and is looking at possible making more investments before the year is out. “We always hope there is more,” says Linda Fingerle, chief financial officer and principal of EDF Ventures. “Nothing is definitive but we’re hopeful.”Source: Linda Fingerle, chief financial officer and principal of EDF VenturesWriter: Jon Zemke
Ann Arbor’s EDF Ventures is scoring some investment hits on the road these days.
The downtown-based venture capital firm recently announced that it helped line up millions of dollars in VC cash for two of the firms it has under its wings. That includes $22 million in Series B stock financing for California-based ValenTx and the third tranche of funding for Byron Center-based TransCorp.
Nearly 1-year-old TransCorp develops surgical instruments for neurosurgical and orthopedic applications. ValenTx develops a less-invasive, implantable medical device to address morbid obesity.
EDF Ventures has about $170 million worth of assets under management and has organized four investment funds since 1987. About a third of those are based in Michigan. Today the company employs five members and one intern and is looking at possible making more investments before the year is out.
“We always hope there is more,” says Linda Fingerle, chief financial officer and principal of EDF Ventures. “Nothing is definitive but we’re hopeful.”
Source: Linda Fingerle, chief financial officer and principal of EDF Ventures
Writer: Jon Zemke
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