HealthQuest raises $110M for initial fund

HealthQuest Capital raised $110 million for its debut fund, more than doubling its initial $50 million target. The fund will invest in the medical device, diagnostic, patient care product, consumer health/OTC and healthcare IT fields with a focus on commercial-stage investments. HealthQuest will typically make an initial investment of $2-$4 million per company with a total investment as high as $7-$10 million over each portfolio company's lifespan. HealthQuest has already made three investments from the fund, including one in cancer diagnostic company Castle Biosciences Inc. (Friendswood, Texas). ...