Miraki Innovation has announced the launch of the Medical Technology Breakthrough Fund, a $175 million fund that will help finance and build the next generation of innovative medtech companies.
Marking the third fund for Miraki’s founder, Chris Velis, Miraki’s Medical Technology Breakthrough Fund will help support the company’s mission of identifying and solving the world’s most pressing health challenges through technology. Miraki leverages Chris’ unique, efficient and proven approach to investing, which has led to the creations and exits of more than 16 industry-leading companies to date–including Auris Health, a surgical robotics company that was recently acquired by Johnson & Johnson for $5.75 billion, the largest venture funded medtech transaction in history.
The Miraki team will use capital from the new fund to build and support portfolio companies, translating ideas and research out of leading research labs and academic institutions, and building them into flourishing companies in the MedTech epicenter of Cambridge, Massachusetts.
“With global concerns like growing antibiotic resistance that continue to strain healthcare resources, it’s more critical than ever that we advance medtech investment to bring more cutting-edge research to patients,” said Velis. “Our methodology builds and brings companies to market quickly and efficiently. By taking quantum leaps – not by making incremental improvements – we intend to bring returns to investors while improving and saving lives.”