Allos Ventures' $40 Million to Fund Midwest Startups

By Admin
Emerging technology companies jostling for investors attention have a new object of affection: Allos Ventures. With offices in Indianapolis and Cincinn...

Emerging technology companies jostling for investors’ attention have a new object of affection: Allos Ventures.  With offices in Indianapolis and Cincinnati, the venture capital firm has a fund of $40 million and is currently looking for a handful of locally-based startups to lend backing to. Preferring that portfolio companies be located within driving distance of those offices, candidates would ideally fall between Pittsburgh, St. Louis, Nashville and Chicago.

The fund directors’– Don Aquilano, John McIlwraith and Dov Rosenberg – experience has shaped the areas the team is most interested in funding: software and technology-enabled business services, specialty healthcare providers, later-stage medical devices and diagnostics, and advanced manufacturing.

Although pharmaceutical and biotech companies will not make the cut, “we absolutely focus on healthcare IT, and what we would call technology-enabled business services,” McIlwraith said when asked for comment. “That’s a horizontal, but one of those verticals within it would be business services in healthcare space.”

Allos Ventures Funding Startups Early Stage Development

A recently closed fund, Allos’ second, followed the same path and targeted early-stage companies in sectors with the potential for profitable growth. The companies typically had raised seed money and were ready for their first round of institutional capital. Initial investments are usually around $2 million, with Allos leading or co-leading rounds between $3-6 million.

Cincinnati-based AssureRx Health received a portion of the firm’s first fund, totaling $11 million, along with three other companies. The bioinformatics company develops tests to help healthcare providers choose personalized medications, using gene therapy, for psychiatric patients. 

Share

Featured Articles

Siemens: smart finance to help medical technology growth

Penny Pinnock, Business Development Manager at Siemens Financial Services UK, discusses how adopting digital technology can support the healthcare sector

Healthcare Digital news roundup: prostate cancer & AI

This week in Healthcare Digital, we heard from experts in the sector: Trevor Dearing from Illumio, Avenda Health’s Brit Berry-Pusey & Vish Charan of Abbott

Lexica shares post-COVID-19 digital healthcare trends

Joanna Smith, Digital Advisory Lead at consulting company Lexica, explores the impact of COVID-19 on digital healthcare & what role health data can play

Medical devices expanding senior healthcare innovation

Medical Devices & Pharma

Abbott’s CRM medical devices can help cardiac arrhythmia

Medical Devices & Pharma

AutoRABIT CEO Meredith Bell on DevOps strategy in healthcare

Hospitals