A new health care fund launched in September 2010 by Daniel R. Frank, in conjunction with MM Dillon & Co. is beginning operations.
Sea Dragon Healthcare Partners L.P., which has raised approximately $15m in its first closing from internal sources and close associates, aims to hold its final closing at $150m. It invests primarily in U.S.-based healthcare companies, with a focus on medical devices/technology, diagnostics/imaging and specialty pharmaceuticals.
The fund is focused on early to advanced stage companies that have developed or are developing products and services related to the diagnosis, prevention, alleviation and treatment of serious illnesses with an emphasis on products that drive cost reduction and/or containment.
Sea Dragon already closed its first investment in GlucoTec Incorporated (read here).