MVP's Medica fund specializes in Israel

MVP Ventures has raised $10 million in a first closing of its new Medica fund. The Boston-based venture firm plans to raise a total of $25-30 million for the fund.

Medica will invest in Israeli companies seeking to develop new diagnostics, devices and therapeutics, as well as in U.S. companies seeking to take advantage of Israel's favorable climate for lower cost R&D, according to MVP general partner Jonathan Fleming. The fund has identified several investments that will be made this quarter...