Stages:

• Early

 

Industries:

Life Sciences & Healthcare

 

Description:

Foundation Venture Capital Group, LLC, uses impact investing to provide pre-seed and seed funding to health-related start-up companies at organizations affiliated with its parent company, New Jersey Health Foundation, to help them advance toward and through commercialization. The Foundation Venture Capital Group was initially funded by the New Jersey Health Foundation with $5 million to invest. The corporation collaborates with the Office of Patents and Licensing at the University of Medicine and Dentistry of New Jersey to provide support and opportunities for University researchers by using private equity investments to make early stage investments in life science companies that license UMDNJ technology. 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. The New Jersey Health Foundation Research Grants Program provides funding with grants up to $35,000 each for health-related research and education programs and projects. Grants must be used to fund only direct program costs. Foundation Venture Capital Group makes private equity investments in health-related start-up companies in New Jersey headed toward commercialization. Companies can receive up to $500,000 each. To help meet an unmet funding need to advance research, New Jersey Health Foundation established the New Jersey Health Innovation Grants Program. Grants from $10,000 up to a maximum of $50,000 each are available to researchers with promising ideas that may lead to developing intellectual property. Grants must be used to fund only direct program costs.