Investments
91Portfolio Exits
14Funds
3About MB Venture Partners
MB Venture Partners is a stage agnostic venture capital firm. Generally, the firm seeks to invest in seed and early stage financing but will selectively look at later stage opportunities. MB Venture Partners' primarily invests in biotech and medical devices.

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Latest MB Venture Partners News
Oct 21, 2015
Michael Sheffield Senior Staff writerMemphis Business Journal Michael Sheffield Senior Staff writerMemphis Business Journal Gary Stevenson, principal of local venture capital firm MB Venture Partners, moderates… more Alan Howell | MBJ From Nov. 3-4, the 13th edition of the Musculoskeletal New Ventures Conference at the FedEx Institute of Technology will showcase 22 promising medical device startups. But the event is also going to address two of the most important issues for medical device startups, raising capital and the regulatory environment. Gary Stevenson, principal of local venture capital firm MB Venture Partners, moderates… more Alan Howell | MBJ Gary Stevenson , managing partner of MB Venture Partners, the conference’s long time host, said the panel discussions will cover the complicated environment companies face for product approval from the U.S. Food & Drug Administration and the decline in capital invested in medical device companies over the last five years. “It’s probably at historic lows,” Stevenson said of capital investment. “Biotech has been hot, but there’s no tax on them. Corporate investors have had to fill in the gaps to some extent that us venture capital firms have left.” Stevenson says between more strict FDA guidelines for product approval, the 2.3 percent excise tax on medical devices, and issues with reimbursements for new devices, major device industry players like Medtronic are waiting longer to acquire new technology. “They’re more excited about technologies that have proven themselves through sales,” Stevenson said. “In 2008, the spine industry was very frothy and companies were making acquisitions of companies that hadn’t been approved yet.” Stevenson says one thing he hopes the startups attending the conference learn is the importance of building a business over looking to be acquired by a larger corporation. Meanwhile corporations like Medtronic and Wright Medical have completed mergers with Covidien and Tornier N.V., respectively. Medtronic moved its headquarters to Ireland, where Covidien is based, a move that has been widely seen as a way to avoid the excise tax. “We tell every company we’ve invested in to keep their heads down, build a business and make sure it’s self-sustainable so you’re not relying on anyone to bail you out,” he says. The big companies have taken their eyes off the ball of acquisition of smaller companies. We hope they get over these distractions and turn their attention back to innovation.” Michael Sheffield covers bioscience and biotechnology; manufacturing; tourism and hospitality; and sports business. Contact him at msheffield@bizjournals.com . Industries
MB Venture Partners Investments
91 Investments
MB Venture Partners has made 91 investments. Their latest investment was in Cast21 as part of their Unattributed VC on August 8, 2021.

MB Venture Partners Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
8/13/2021 | Unattributed VC | Cast21 | $3.17M | No | 2 | |
7/6/2021 | Unattributed VC | CrossRoads Extremity Systems | $3.74M | No | 3 | |
12/23/2019 | Series B | Lineus Medical | $1.25M | No | 2 | |
11/1/2018 | Unattributed VC | |||||
6/15/2018 | Series A - III |
Date | 8/13/2021 | 7/6/2021 | 12/23/2019 | 11/1/2018 | 6/15/2018 |
---|---|---|---|---|---|
Round | Unattributed VC | Unattributed VC | Series B | Unattributed VC | Series A - III |
Company | Cast21 | CrossRoads Extremity Systems | Lineus Medical | ||
Amount | $3.17M | $3.74M | $1.25M | ||
New? | No | No | No | ||
Co-Investors | |||||
Sources | 2 | 3 | 2 |
MB Venture Partners Portfolio Exits
14 Portfolio Exits
MB Venture Partners has 14 portfolio exits. Their latest portfolio exit was Statera Spine on August 27, 2020.
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 |
---|---|---|---|---|---|
8/27/2020 | Acquired | 3 | |||
9/24/2018 | Acquired | 1 | |||
1/4/2018 | Acquired | 1 | |||
Date | 8/27/2020 | 9/24/2018 | 1/4/2018 | ||
---|---|---|---|---|---|
Exit | Acquired | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 3 | 1 | 1 |
MB Venture Partners Fund History
3 Fund Histories
MB Venture Partners has 3 funds, including Memphis Biomed Ventures III LP.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
11/16/2011 | Memphis Biomed Ventures III LP | Multi-Stage Venture Capital | Open | $22M | 1 |
10/2/2006 | Memphis Biomed Ventures II | ||||
10/1/2002 | Memphis Biomed Ventures I LP |
Closing Date | 11/16/2011 | 10/2/2006 | 10/1/2002 |
---|---|---|---|
Fund | Memphis Biomed Ventures III LP | Memphis Biomed Ventures II | Memphis Biomed Ventures I LP |
Fund Type | Multi-Stage Venture Capital | ||
Status | Open | ||
Amount | $22M | ||
Sources | 1 |
MB Venture Partners Team
2 Team Members
MB Venture Partners has 2 team members, including current Founder, Managing Partner, Gary D. Stevenson.
Name | Work History | Title | Status |
---|---|---|---|
Gary D. Stevenson | Morgan Keegan Ventures, A.G. Edwards, Abbott, and Arthur Andersen | Founder, Managing Partner | Current |
Name | Gary D. Stevenson | |
---|---|---|
Work History | Morgan Keegan Ventures, A.G. Edwards, Abbott, and Arthur Andersen | |
Title | Founder, Managing Partner | |
Status | Current |
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