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BlueStone Venture Partners, LLC is a venture capital firm founded in 2017 by Tom Nickoloff and Mara Aspinall. The firm is headquartered in Santa Fe, New Mexico, having initially launched in Tucson, Arizona. BlueStone specializes in the Life Sciences sector, focusing on biotech, healthcare, medical devices, and advanced materials. The firm has a fund size of $50 million and currently manages a portfolio of 8 companies.
BlueStone Venture Partners aims to uncover investment opportunities in the 'NATO states'—New Mexico, Arizona, Texas, and Oklahoma—regions that are often overlooked by traditional venture capital. The firm combines extensive operational, technical, and financial expertise to create value for its portfolio companies. Notable milestones include their first investment from the $50 million fund in October 2018, which was an equity funding round for BroadSpot Imaging Corporation.
BlueStone Venture Partners primarily invests in early-stage companies within the Life Sciences sector, specifically targeting medical devices, health IT, advanced materials, and molecular diagnostics. The firm emphasizes sectors where its team possesses direct operational and investment experience, allowing them to leverage strong external networks to enhance value for their partners. Investment stages include Series A and Series B, with check sizes typically ranging from $10 million to $50 million.
The firm’s geographic focus is on the NATO states, which include New Mexico, Arizona, Texas, and Oklahoma. This focus is driven by the belief that these regions harbor hidden opportunities, supported by strong local research institutions and best-in-class technology. BlueStone's investment thesis highlights the potential of companies in these states, which have historically been overlooked by legacy venture capital despite their promising innovations and talented leadership.
BlueStone Venture Partners has a diverse portfolio of 8 companies within the Life Sciences sector. Notable investments include:
The firm’s portfolio reflects its commitment to investing in innovative medical devices, health IT solutions, and advanced materials that address pressing healthcare challenges.
Tom Nickoloff - Co-Founder & Managing Director. Tom has extensive operational and financial experience in the Life Sciences sector, having co-founded BlueStone Venture Partners to leverage his expertise in supporting innovative healthcare startups.
Mara Aspinall - Co-Founder & Executive Consultant. Mara is a seasoned healthcare industry CEO and investment adviser, bringing a wealth of knowledge in operational strategy and investment management to the firm.
Chris Burwell - Manager of Research. Chris plays a critical role in identifying investment opportunities and conducting due diligence on potential portfolio companies.
Andrew More - Decision Maker. Andrew contributes to the investment decision-making process, drawing on his background in the healthcare sector to evaluate potential investments.
To pitch BlueStone Venture Partners, founders should utilize the contact form available on their website. It is advisable to include a comprehensive deck that outlines the business model, market opportunity, and team qualifications. While specific response time expectations are not provided, founders should anticipate a thorough review process given the firm's focus on detailed operational and financial expertise.
In October 2018, BlueStone Venture Partners made its first investment from its $50 million fund, providing equity funding for BroadSpot Imaging Corporation. This marked a significant milestone for the firm as it began deploying capital from its inaugural fund.
Additionally, BlueStone participated in a $45 million Series C round for GT Medical Technologies, a company specializing in brain tumor therapies. This investment highlights the firm's commitment to supporting innovative solutions in the medical technology space.
What are BlueStone Venture Partners' investment criteria?
BlueStone Venture Partners invests in early-stage companies within the Life Sciences sector, particularly in medical devices, health IT, advanced materials, and molecular diagnostics. They focus on firms located in the NATO states, which include New Mexico, Arizona, Texas, and Oklahoma.
How can I apply or pitch to BlueStone Venture Partners?
Founders interested in pitching to BlueStone Venture Partners should prepare a detailed presentation that outlines their business model, market opportunity, and team qualifications. While specific application forms are not mentioned, reaching out through their contact form on the website is recommended.
What makes BlueStone Venture Partners different from other VC firms?
BlueStone Venture Partners distinguishes itself by focusing on the often-overlooked NATO states, leveraging local research institutions and strong operational expertise to create value for portfolio companies. Their team has direct experience in the sectors they invest in, enhancing their ability to support startups effectively.
What is the typical check size for investments?
BlueStone Venture Partners typically invests between $10 million and $50 million in their portfolio companies, focusing on Series A and Series B funding rounds.
What is the firm's post-investment involvement like?
BlueStone Venture Partners adds value to its portfolio companies through extensive operational and technical expertise, as well as strong connections within the healthcare industry and local research institutions. This involvement often includes mentorship and strategic guidance.
What is the firm's fund size and how many companies do they invest in?
BlueStone Venture Partners has a fund size of $50 million and currently manages a portfolio of 8 companies, focusing on life sciences investments.
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