Xcellerant Ventures, Flinn Foundation partner to grow Arizona bioscience and health care sectors

Xcellerant Ventures and the Flinn Foundation announced May 22 that the Flinn Foundation would be joining Xcellerant’s Venture Capital Fund I as a limited partner to support early and seed-stage startups in the HealthTech and MedTech space in Arizona.

Xcellerant specializes in investing in early stage companies in life sciences, biotechnology and health care. To date, the venture fund has invested more than $9 million in early stage startups in Arizona, California and Minnesota, the Phoenix Business Journal reported.

This move represents significant progress for Arizona’s life science and biotech ecosystem. The Flinn Foundation, a long-standing supporter of the growth of Arizona’s bioscience industry through its Bioscience Roadmap, combined with the expertise in bioscience, health care and entrepreneurship will unlock new opportunities for Arizona’s economy.

“It is the next step in creating a vibrant innovation network where entrepreneurs and founders from Arizona — often nurtured by Flinn for years — can find the funding necessary to keep their companies here,” Xcellerant Ventures Managing Director Doug Sylvester said in an email to the Phoenix Business Journal.

The Flinn Foundation has been an incredible supporter of the Phoenix Bioscience Core and the institutions that call it home. In June 2022, it announced a significant investment in the Center for Entrepreneurial Innovation to support CEI’s LabForce professional development center on the on the PBC. And, in April 2022, Flinn Foundation awarded a $5.5 million grant to the University of Arizona College of Medicine – Phoenix to support a number of programs, including entrepreneurship efforts in the college.

About two-thirds of the firm’s portfolio consists of Arizona-based companies with another startup likely to relocate to the state in the coming months, he added.

Xcellerant’s portfolio includes Tesis Biosciences, AdviNow Medical, Anuncia Medical Inc. and Rivia Health, all of which are based in Arizona. Rochester, Minnesota-based Nanodropper Inc. and Treatment, Technologies & Insights, of Los Angeles, round out the portfolio, the Business Journal reported.

Read Next:

Northern Arizona University announces NAU Health, new college of medicine focused on underserved, rural and Indigenous populations
Northern Arizona University announced the launch of NAU Health, as well as a College of Medicine, focused on increased …
Phoenix Bioscience Core names inaugural recipients of Student Art Grant
The Phoenix Bioscience Core and its PBC Arts Committee announced the four recipients of the first PBC Student Art …
National Institutes of Health To Locate Signature Research Program on the Phoenix Bioscience Core
PHOENIX (September 14, 2023) – Wexford Science & Technology, LLC today announced that the National Institutes of Health has signed a lease at 850 PBC and …