Christopher Velis, founder of Miraki Innovation, a Cambridge, Massachusetts-based technology investment and development firm, has launched his third fund to finance and build the next generation of pioneering medical technology (medtech) companies.
The $175m Medical Technology Breakthrough Fund will focus on building and supporting portfolio companies, leveraging existing and new academic and research relationships to develop and commercialize novel, market-leading medtech.
The portfolio companies will benefit from experience and tools, including experience in oncology, tissue regeneration, infectious disease, imaging and diagnostics, cardiology, trauma and robotic surgery.
Miraki translates ideas and research out of labs and builds them into medtech companies. The company works with the world’s leading institutions to license IP and operates its portfolio companies exclusively in its Cambridge, Massachusetts Venture Development Center.
This approach has already led to the creations and exits of more than 16 companies.
Miraki’s Medical Technology Breakthrough Fund will be the third fund started and managed by Velis. One of Velis’ past successes is Auris Health, a surgical robotics company that was acquired by Johnson & Johnson in February 2019 for $5.75 billion (inclusive of milestone payments).