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Venture Capital
arboretumvc.com

Investments

169

Portfolio Exits

27

Funds

6

Partners & Customers

1

Service Providers

1

About 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.

Headquarters Location

303 Detroit Street Suite 301

Ann Arbor, Michigan, 48104,

United States

734-998-3688

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Latest Arboretum Ventures News

Virtual Incision Extends Series C Round with Additional $30 Million Funding

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.

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Arboretum Ventures Investments Activity

investments chart

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

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$99M

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10

1/5/2023

Series D

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$99M

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10

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

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Amount

$13.17M

$5M

$30M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

1

1

2

10

10

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

$99M

16

12/6/2021

Reverse Merger

$99M

8

11/16/2021

Acquired

$99M

3

6/30/2021

Acquired

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$99M

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10

3/11/2021

Acquired

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$99M

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10

Date

12/17/2021

12/6/2021

11/16/2021

6/30/2021

3/11/2021

Exit

Reverse Merger

Reverse Merger

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

16

8

3

10

10

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

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$99M

10

9/15/2015

Arboretum Ventures IV

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$99M

10

9/8/2011

Arboretum Ventures III LP

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$99M

10

2/12/2009

Arboretum Ventures II LP

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$99M

10

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

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Status

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Amount

$268M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

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

Arboretum Ventures Joins Existing Investors. You are here: Home / Chrysalis News / HealthMedia, Inc. Raises $2 Million of Growth Capital.

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

Arboretum Ventures Joins Existing Investors. You are here: Home / Chrysalis News / HealthMedia, Inc. Raises $2 Million of Growth Capital.

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

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Name

Jan Garfinkle

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Work History

Title

Founder, Managing Partner

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Status

Current

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