Wexford Science & Technology, LLC, the leading developer of university-centric Knowledge Communities, today formally announced the launch of its new venture capital fund focused on investing in early and late-stage seed opportunities. The company also unveiled its first two funded investments. The Wexford SciTech Venture Fund aims to partner with university and regional funds to provide startups with the financial support, connections, and resources they need to grow and thrive. The fund will initially concentrate its efforts primarily in life sciences and technology companies in markets where Wexford has one of its seventeen Knowledge Community developments.
“Wexford is excited to launch our SciTech Venture Fund to support our university partners and local entrepreneurs in assisting promising startups and providing funding, advice, and connections critical to growing and becoming investment ready,” said Thomas Osha, Wexford’s Executive Vice President and president of the fund.
Corporate advisory and investment banking firm, Evergreen Advisors (Columbia, MD) serves as fund manager and the fund features a seasoned group of industry leaders as advisors who bring unparalleled knowledge, contacts, and real-world experience when identifying and supporting the next generation of innovative startups.
During its organizing period, the Wexford SciTech Venture Fund made its first two investments:
- Capsulomics, (d.b.a. Previse) is a Baltimore-based life science company spun out of Johns Hopkins University, with strong Founder roots the University of Maryland, Baltimore, focused on the development and commercialization of early diagnostic tests for Esophagus cancer detection and prevention.
- Astek is a Baltimore-based medical device diagnostics company, with strong founder roots to the University of Maryland, Baltimore, that has developed an automated instrument that confirms presence of Urinary Tract Infections and simultaneously identifies the best antibiotics to treat the infection considerably quicker than current clinical standards.
In addition to financial support, portfolio companies will have access to Wexford’s substantial network of university talent, industry experts, strategic partners, and resources to help them scale and grow.
“By creating this fund, not only is Wexford helping provide seed-stage startups with the resources they need to succeed, they are helping universities like the University of Maryland, Baltimore amplify their efforts to scale their regional innovation ecosystems,” said Jim Hughes, Senior Vice President and Chief Enterprise and Economic Development Officer for the University of Maryland, Baltimore.
For more information on the Wexford SciTech Fund visit www.wexfordscitech.com/venturefund or to submit a pitch, contact George Davis, Executive Vice President, Evergreen Advisors at [email protected].