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Arboretum Ventures Exceeds Target with $268 Million Sixth Fund

By June 28, 2023No Comments
Arboretum Ventures Managing Partners

Tom Shehab MD, Jan Garfinkle, Dan Kidle

Ann Arbor, MI (June 28, 2023) – Arboretum Ventures, a healthcare venture capital firm based in Ann Arbor, Michigan, announced the closing of its $268 million sixth fund, exceeding the target fund size. Investors include major health systems, payors, pension funds, endowments, and family offices. This closing marks a major milestone for the firm, now in its twenty‐first year of operation, with total capital under management now at $1 billion. The fund will be managed by a long‐tenured senior team including Managing Partners Jan Garfinkle, Tom Shehab MD, Dan Kidle, Partner and COO Paul McCreadie, and CFO Marcy Marshall.

“More than ever, our strategy of investing in companies that aim to lower healthcare costs while improving outcomes is vital to addressing significant challenges that face the healthcare industry,” commented Managing Partner Tom Shehab, MD. “Our healthcare system continues to grapple with an aging population and rising costs – we’re excited to partner with entrepreneurs who are ready to meet this challenge head‐on.”

Arboretum’s more than sixty investments in medical devices, diagnostics, life science tools, and IT‐enabled healthcare services have impacted over 16 million patients nationwide. These investments have spanned a diverse set of disease areas including oncology, cardiovascular, infectious disease, pulmonology, urology, and orthopedics.

“We are grateful for the continued support of our investors, especially in such a challenging fundraising climate,” said Managing Partner Jan Garfinkle. “Our network of health system partners and industry advisors will help shape our investment strategy by providing insights to key strategic healthcare priorities.” In May of this year, Jan was a recipient of the National Venture Capital Association’s inaugural Venture Vanguard award, recognizing venture capital leaders who have made significant contributions to the industry.

Based in Michigan, Arboretum has a national footprint, but has historically deployed ~75% of its investments in “under‐ventured” geographies. Some of the firm’s most successful investments across the country include BioIQ, Inogen, NeuMoDx, nVision, NxThera, Rethink, and Swift Biosciences.

“In 2002, Jan and our cofounder Tim Petersen took a risk and started Arboretum with the premise that you could build a successful venture fund in Michigan,” added Managing Partner Dan Kidle. “Twenty‐one years later, we continue to embrace that entrepreneurial spirit, seeking out great opportunities overlooked by others.”

About Arboretum Ventures
Arboretum Ventures, LLC (“Arboretum”) is a venture capital firm, founded in 2002, specializing in the healthcare sector. The firm manages $1 billion in capital across six investment funds raised over the past twenty‐one years. Arboretum focuses on capital‐efficient investment opportunities in medical devices, life science tools & diagnostics, tech‐enabled care delivery, and pharma adjacencies. The firm’s portfolio is diverse in terms of stage and geography, although ‘under ventured’ geographies like the Midwest are of particular interest. Arboretum’s guiding vision is to identify transformative healthcare companies developing novel solutions to significant healthcare issues that simultaneously reduce cost and improve outcomes.