September 10, 2019 / 9:48 AM / 5 months ago

Triventures ARC fund has first closing, makes initial investment

JERUSALEM (Reuters) - Israeli-U.S. venture capital fund Triventures launched on Tuesday a $40 million fund that will invest in early stage digital health and smart medical devices.

Triventures, which is a partner with Tel Aviv’s Sheba Medical Center, said it already made its first closing for the fund. A company official said the closing was for more than half of the total.

The company also said ARC made its first investment in Lynx.MD, an Israeli startup whose cloud-platform enables hospitals and medical firms to securely access and share any type of data in the healthcare environment and develop artificial intelligence-based digital health applications that improve the quality of care and reduce costs.

Reporting by Steven Scheer

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