
Investments
169Portfolio Exits
27Funds
6Partners & Customers
1Service Providers
1About Arboretum Ventures
Arboretum Ventures is an early-stage venture capital firm specializing in the healthcare sector. Tge firm focuses primarily on investments in medical technology and healthcare services. Arboretum invests throughout the United States, with a special interest in the Midwest region. It was founded in 2002 and is based in Ann Arbor, Michigan.

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Latest Arboretum Ventures News
Sep 21, 2023
Investment will accelerate advancements of the MIRA Surgical System Virtual Incision Corporation, the developer of the world’s first miniaturized robotic-assisted surgery (RAS) system, announced a $30 million extension to its previous $46 million Series C financing . The round was led by current investors Bluestem Capital, Endeavour Vision, Baird Capital, cultivate(MD) Capital Funds, and PrairieGold Venture Partners, as well as new health-tech investors Arboretum Ventures and InVivium Capital. Concurrent with the extension, Virtual Incision has appointed Tom Shehab, MD, managing partner from Arboretum Ventures, as a member of its board of directors, and Amy Kobe, general partner from InVivium Capital, as a board observer. “We’re grateful for our investors – both existing and new – and are excited to build an even stronger medtech syndicate with the additions of Arboretum and InVivium,” said John Murphy , president and chief executive officer of Virtual Incision. “This financing, particularly in the current fundraising environment, is a significant affirmation of the promise Virtual Incision offers to both patients and shareholders.” The $30 million funding extension will support the company’s operations well into 2025 as it seeks to disrupt the industry with miniaturized RAS (miniRAS). miniRAS aims to deliver the capabilities of traditional RAS systems through a form factor small enough to fit in a surgical tray. The compact, capable, and convenient design is uniquely positioned to expand RAS to the millions of patients who do not have access to the technology today.1 This funding comes on the heels of a series of significant milestones toward commercial readiness of the MIRA Surgical System. Earlier this year, Virtual Incision completed an Investigational Device Exemption (IDE) clinical study for MIRA’s use in bowel resection and announced that its De Novo request is under substantive review by the U.S. Food and Drug Administration (FDA). If granted marketing authorization, the company plans to initiate a limited launch of MIRA across select U.S. centers. Virtual Incision is focused on advancing patient access to RAS, especially in routine and high-volume procedures, many of which are performed in outpatient and ambulatory surgery centers. The investment will be used to support this mission through a gynecologic clinical study planned for 2024. The company will also continue to develop a smaller iteration of the minibot to enable additional general surgery applications with a first-in-human clinical study expected next year. In the near term, Virtual Incision will support a collaboration between NASA and the University of Nebraska-Lincoln to lay the foundation for performing telesurgery in space. A modified version of MIRA will board the International Space Station to perform simulated surgical tasks from a microwave-sized locker, a feat made possible by its RAS capabilities in miniaturized form. “We are excited to invest in the Series C extension from our fund, Arboretum Ventures VI ($268 million fund). Consistent with our previous funds, we partner with transformational organizations at the intersection of healthcare and technology to improve patient outcomes,” said Dr. Tom Shehab. “Virtual Incision’s long-standing investor support is a signal of the company’s commitment to doing just that. The company’s recent milestones demonstrate that the momentum of miniRAS is only going to continue to build, and we’re excited to be on board.”
Arboretum Ventures Investments
169 Investments
Arboretum Ventures has made 169 investments. Their latest investment was in RareCyte as part of their Series H on July 7, 2023.

Arboretum Ventures Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
7/25/2023 | Series H | RareCyte | $13.17M | No | 1 | |
6/30/2023 | Unattributed VC | Delphinus Medical Technologies | $5M | No | 1 | |
6/28/2023 | Series C - II | Virtual Incision | $30M | Yes | 2 | |
5/5/2023 | Series D | |||||
1/5/2023 | Series D |
Date | 7/25/2023 | 6/30/2023 | 6/28/2023 | 5/5/2023 | 1/5/2023 |
---|---|---|---|---|---|
Round | Series H | Unattributed VC | Series C - II | Series D | Series D |
Company | RareCyte | Delphinus Medical Technologies | Virtual Incision | ||
Amount | $13.17M | $5M | $30M | ||
New? | No | No | Yes | ||
Co-Investors | |||||
Sources | 1 | 1 | 2 |
Arboretum Ventures Portfolio Exits
27 Portfolio Exits
Arboretum Ventures has 27 portfolio exits. Their latest portfolio exit was EQRx on December 17, 2021.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
12/17/2021 | Reverse Merger | 16 | |||
12/6/2021 | Reverse Merger | 8 | |||
11/16/2021 | Acquired | 3 | |||
Date | 12/17/2021 | 12/6/2021 | 11/16/2021 | ||
---|---|---|---|---|---|
Exit | Reverse Merger | Reverse Merger | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 16 | 8 | 3 |
Arboretum Ventures Fund History
6 Fund Histories
Arboretum Ventures has 6 funds, including Arboretum Ventures VI.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
6/28/2023 | Arboretum Ventures VI | $268M | 2 | ||
6/18/2019 | Arboretum Ventures V | ||||
9/15/2015 | Arboretum Ventures IV | ||||
9/8/2011 | Arboretum Ventures III LP | ||||
2/12/2009 | Arboretum Ventures II LP |
Closing Date | 6/28/2023 | 6/18/2019 | 9/15/2015 | 9/8/2011 | 2/12/2009 |
---|---|---|---|---|---|
Fund | Arboretum Ventures VI | Arboretum Ventures V | Arboretum Ventures IV | Arboretum Ventures III LP | Arboretum Ventures II LP |
Fund Type | |||||
Status | |||||
Amount | $268M | ||||
Sources | 2 |
Arboretum Ventures Partners & Customers
1 Partners and customers
Arboretum Ventures has 1 strategic partners and customers. Arboretum Ventures recently partnered with HealthMedia on July 7, 2005.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
7/25/2005 | Partner | United States | According to Tim Petersen , Arboretum Ventures Managing Partner , `` HealthMedia , Inc. 's custom solutions have proven clinically successful at improving health related behavior for the constituents of health plans and self-insured employers , and increasing prescribed regimen compliance and efficacy for pharmaceutical firms , medical device manufacturers , and disease management firms . | 1 |
Date | 7/25/2005 |
---|---|
Type | Partner |
Business Partner | |
Country | United States |
News Snippet | According to Tim Petersen , Arboretum Ventures Managing Partner , `` HealthMedia , Inc. 's custom solutions have proven clinically successful at improving health related behavior for the constituents of health plans and self-insured employers , and increasing prescribed regimen compliance and efficacy for pharmaceutical firms , medical device manufacturers , and disease management firms . |
Sources | 1 |
Arboretum Ventures Service Providers
1 Service Provider
Arboretum Ventures has 1 service provider relationship
Service Provider | Associated Rounds | Provider Type | Service Type |
---|---|---|---|
Counsel | General Counsel |
Service Provider | |
---|---|
Associated Rounds | |
Provider Type | Counsel |
Service Type | General Counsel |
Partnership data by VentureSource
Arboretum Ventures Team
10 Team Members
Arboretum Ventures has 10 team members, including current Founder, Managing Partner, Jan Garfinkle.
Name | Work History | Title | Status |
---|---|---|---|
Jan Garfinkle | Founder, Managing Partner | Current | |
Name | Jan Garfinkle | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Founder, Managing Partner | ||||
Status | Current |