Planting trees

Arboretum Ventures has closed a $140 million third fund that the firm will invest in medical device, diagnostics and healthcare services companies in equal measure.

The fund was raised in about eight months and exceeded its $125 million target. The first close of about $75 million in January was from existing LPs. The remainder came from new LPs, founder and Managing Director Jan Garfinkle told Ebb & Flow...