The Foundation Venture Capital Group, LLC, was initially funded by the New Jersey Health Foundation with $5 million to invest.
Because Foundation Venture Capital Group directly invests in the development of new start-up companies that most likely would not have been formed without outside support, it will bring much needed support to these companies to fund emerging medical breakthroughs in research and technology.
According to James M. Golubieski, president, this concept can prove to be transformational for the overall mission of the New Jersey Health Foundation which provided the original $5 million funding, for researchers at UMDNJ who are involved in these innovative projects and for patients who will be able to take advantage of the new products and technologies that will result from this effort.
Once a company is established with seed funding, Foundation Venture Capital Group will seek to work with other traditional venture capital companies to help advance these technologies.
|Actinobac Biomed||2/2013||Series B||$100k||1|
|Affineti Biologics||6/2011||Venture Round||$500k||1|
|Actinobac Biomed||3/2009||Venture Round||$500k||1|