The American Gastroenterological Association and Varia Ventures launched a new fund to invest in fast-growing, early-stage gastroenterological companies.
The GI Opportunity Fund seeks to fill the funding gap that occurs during the early stages of development for GI innovators by connecting them with investors, according to a Jan. 20 press release.
AGA and Varia Ventures, a venture capital firm, hope to raise $25 million for the initial fund, to support 10 to 20 high-potential investments of $250,000 to $2 million in pre-seed funds to series B companies.
"The GI Opportunity Fund provides a new and affordable opportunity for qualified investors to participate in venture capital while making an investment in the future of gastroenterology and patient care," says Michael Kochman, MD, AGA governing board councilor for development and growth.