November 12, 2020
Sheltowee Medical Device Fund, LP (SMDF) broke escrow and made its first investment in Embolic Acceleration, LLC (EMBA) of Miramar, FL, recently. The SMDF is a $20M venture fund dedicated to investing in the best and brightest medical devices and entrepreneurs in the “heartland” of the U.S.
Sheltowee Medical Device Fund investment thesis is to target seed and early stage medical device companies in the cardiovascular, orthopedics, and digital wearables market segments, all areas of expertise by the leadership team and Scientific Advisory Board of the fund. The fund will target five investments per year for five years. Each portfolio company will be actively engaged by the Leadership Team and be integrated into an ecosystem of innovation, product development, and product commercialization.
Brian Doughty, SMDF Partner, stated, “These companies must have clear intellectual property value, a clear path to commercialization, and be ready to embrace the DeltaForceTM method.” This method is a key efficiency driver that has been demonstrated to propel companies through their early, awkward stages faster and more cost-effectively than traditional venture investment models for medical devices. “EMBA scored well on our 15-point structural diligence report and equally well on our 217-point market acceptance risk report,” said Doughty. “We have high expectations of the company,” he added.
“We are excited about what we have been able to accomplish this year in the midst of the turmoil of 2020,” stated Dobson. “We expect to fully capitalize the fund shortly and expand our impact,” he added. Dobson further stated, “We are thrilled we were able to break escrow, make our first investment, create such an outstanding Scientific Board of Advisors this year. We expect to make one more investment before year end. And, 2021 is shaping up to be a great year for Sheltowee.”
The SMDF is expected to be fully capitalized in early 2021. Investors interested in information should contact Eric Dobson, listed below.
