Peregrine Ventures, an Israeli med-tech venture capital fund, just closed its fourth fund, Peregrine 4, raising $115 million.
Investors include “leading institutional and private equity investors” from Israel, the United States, Europe and Australia, the fund said in a statement on Monday.
“There is a huge demand, and opportunity, in medical technologies in Israel and foreign investors recognize this,” said Eyal Lifschitz, managing partner at Peregrine, in the statement. “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.”
The new fund will continue to invest in early-stage and late-stage rounds of medical technology startups.
Peregrine now has over $200 million under management, and an equal amount available for co-investment, follow-on, and late stage investments in its portfolio companies from Peregrine 1, 2, and 3, the statement said.
Since 2001, Peregrine Ventures has focused on medical, biotech, and life science investments in Israel.
The VC firm has completed 10 exits totaling more than $2 billion in cumulative value, with exits including that of Rocketick, bought by Cadence in 2016 for a reported $40 million, Valtech Cardio and Eximo Medical, a maker of hybrid catheter technology that was acquired in October by US firm AngioDynamics, Inc. the statement said.
The firm has also invested in a variety of startups in the field of therapeutic single product use devices, digital health, pharma, aesthetics, food-tech and diagnostics, including CartiHeal.
Peregrine Ventures also owns and operates the Incentive Incubator, one of the earliest set up in partnership with the Israeli Innovation Authority with the aim of incubating the most promising Israeli med-tech startups.