Medical Device Companies Attract Bay Area Investors
Bay Area medical device companies in the first quarter of 2007 generated more venture capital financing than software companies for the first time ever, according to data from the MoneyTree report, the Contra Costa Times reports.
According to the report, privately held medical device and equipment companies in the first quarter raised $447 million through venture financing, compared with $397 million for the software industry.
Venture capitalists sometimes merge the biotechnology and medical device industries into one category called life sciences. Investments in life sciences in the first quarter totaled $724 million.
Randy Williams -- CEO of East Bay-based Keiretsu Forum, which arranges early-stage investing in startup companies - said, "There is rising interest in life sciences" due to an aging population.
Williams added, "Life sciences will give people a better quality of life and longevity. There is a vested interest to look at opportunities in life sciences" (Avalos, Contra Costa Times, 6/22).