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Venture Capital
mbventures.com

Investments

91

Portfolio Exits

14

Funds

3

About 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.

Headquarters Location

17 W Pontotoc Avenue Suite 101

Memphis, Tennessee, 38103,

United States

901-322-0330

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Latest MB Venture Partners News

Memphis conference to feature 22 medical device startups

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.

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MB Venture Partners Investments Activity

investments chart

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

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$99M

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10

6/15/2018

Series A - III

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$99M

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10

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

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Amount

$3.17M

$3.74M

$1.25M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

2

3

2

10

10

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

$99M

3

9/24/2018

Acquired

$99M

1

1/4/2018

Acquired

$99M

1

3/15/2017

IPO

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$99M

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10

4/25/2016

Acquired

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$99M

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10

Date

8/27/2020

9/24/2018

1/4/2018

3/15/2017

4/25/2016

Exit

Acquired

Acquired

Acquired

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

1

1

10

10

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

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$99M

10

10/1/2002

Memphis Biomed Ventures I LP

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$99M

10

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

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Status

Open

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Amount

$22M

$99M

$99M

Sources

1

10

10

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

Founder, Managing Partner

Current

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Name

Gary D. Stevenson

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Work History

Title

Founder, Managing Partner

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Status

Current

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