Christopher Weil & Co. Inc., a San Diego financial services company, and its affiliate, CWC Asset Advisors Inc., said it has raised about $10 million for a private equity fund to invest in health care and medical device technologies.
The fund, called CWC HealthTech Fund 1, is co-managed by San Diego-based medical device entrepreneur Eugene Chen and CWC HealthTech Advisors, a division of CWC Asset Advisors.
Chen anticipates the fund investing from $500,000 to $3 million each into several technology companies. It will seek out companies with strong intellectual property strategies that have a plan to generate significant revenue or that will be acquired within the fund’s timeframe, he said.
Chen said the last decade saw a decline in traditional sources funding health-related technologies nationwide, and that this fund will do its part to fill the void.
— SDBJ Staff Report