Saratoga Ventures raises $3M of $25M fund
Saratoga Ventures, a Los Gatos, Calif., venture-capital firm specializing in early-stage medical-device investments, has raised $3 million as part of an expected $25 million sixth fund, PE Wire reports.
That may not sound like a lot, but investing in early-stage companies obviously requires far less capital than later rounds, and Saratoga has a fairly impressive portfolio, including companies we’ve written about recently such as Asthmatx, Paracor and Point Biomedical.
Also, props to Saratoga for continuing to list its investments in companies that have since failed or dissolved, such as Converge Medical and TheraCardia. I like to think of this as the Bessemer Anti-Portfolio Effect, and it’s always refreshing to see. Everyone knows that venture investing is a high-risk, high-reward sort of business, but the way most VCs present their portfolios, you’d be forgiven for thinking that Sand Hill Road’s geniuses had somehow managed to factor risk entirely out of the equation.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.