Vitalife closes first fund

Related tags Venture capital Private equity

The addition of HarbourVest Partner to Israeli life sciences
venture capital fund Vitalife prompted the fund to announce on
Monday the closing of its first fund, worth €46 million.

Vitalife, an Israeli life sciences venture capital fund, on Monday announced the closing of its first fund, totalling €46 million.

Private equity company HarbourVest Partners joins Vitalife's existing investors that include Discount Capital Markets and Investments, SCP Private Equity Partners, Boston Scientific and Evergreen.

Vitalife, which focuses on investments in Israeli and Israel-related companies in the healthcare and life sciences fields, had completed its initial closing of approximately $30 million during the first quarter of 2002. Its portfolio of companies include MediGuide, SightLine, Procognia and TransPharma.

Professor Ludomirsky, Vitalife's managing partner, said: "It is a great achievement for Vitalife that world-class investors such as HarbourVest have decided to join our fund, especially given the current investment climate.

Their investment attests to the quality of Vitalife's portfolio companies, our 'hands-on' management capabilities and the excellent deal flow potential in the Israeli life sciences field."

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