NBGI Ventures closes technology fund at €30M

Funding round closed

NBGI Ventures announced the first close of its second fund, NBGI Technology Fund II LP, with a commitment of €30 million from the National Bank of Greece. The firm is now in discussions with potential investors for further commitments up to a target fund size of €60 million for investment in early stage medical technology companies in Europe.

NBGI Ventures’ first fund, raised in 2001, has been invested in eight early-stage technology companies. The new fund will adopt the same investment strategy, focusing on early stage medical technology businesses based in Europe, investing between €1 million and €9 million per company.

Coinciding with its first close, the NBGI Technology Fund II LP announced  its first two investments in the sector, 2010 Perfect Vision AG, a company developing femtosecond lasers for ophthalmic surgery based in Heidelberg, Germany, and Reverse Medical Corporation, a company based in Germany and the US, which is developing a proximal protection system for carotid artery stenting procedures.

Other companies supported by NBGI Ventures include BoneSupport of Sweden, SuperSonic Imagine of France, Forth Photonics in the UK and Upfront Chromatography of Denmark.