Christopher Weil & Company Raises $10 Million Healthcare and Medical Device Investment Fund
San Diego, CA, October 08, 2013 --(PR.com
)-- San Diego financial services firm Christopher Weil & Company, Inc. and its affiliate, CWC Asset Advisors, Inc., announced today that private equity fund, CWC HealthTech Fund 1 LLC has raised over $10 million to invest in healthcare and medical device technologies, primarily in San Diego.
The fund is co-managed by San Diego-based medical device entrepreneur Eugene Chen and CWC HealthTech Advisors (a division of CWC Asset Advisors, Inc.).
“The last decade or so has seen a decline in traditional sources of funding for innovation in the area of health-related technologies across the country,” said Chen. “Our HealthTech Fund is trying to do its part to fill this void in Southern California and also take advantage of the opportunity that it presents.”
HealthTech Fund anticipates investing between half a million and three million dollars in each of several technology companies. It will seek out companies with strong intellectual property strategies that have a plan to get to significant revenues (or be acquired by an identified buyer) within the timeframe of the Fund’s investment.
Chen brings a wealth of practical healthtech start-up experience to his role as co-manager, while CWC HealthTech Advisors’ Matthew Weil brings expertise from nearly two decades as an intellectual property litigator and advisor. “San Diego has more than its fair share of medical device, diagnostics and healthcare IT entrepreneurs that want to build great companies,” Weil observed. “We are looking forward to working with them to help achieve that success.”
About CWC Asset Advisors
CWC Asset Advisors, Inc. (CWCAA) is the Managing Member or General Partner of a diverse group of private equity funds including a fund formed to invest in a company that developed a novel renal denervation technology and was then acquired by Boston Scientific. CWC HealthTech Fund 1 LLC is CWCAA’s first fund dedicated to investment in a variety of healthcare companies.
About Christopher Weil & Company
For over 40 years, CWC and its affiliates have provided financial advisory/wealth management services and managed securities portfolios and private equity ventures on behalf of clients and staff. CWC is an SEC registered securities broker-dealer and a registered investment advisor. CWC’s private equity sponsor affiliates, CWCAA and Storage Managers Inc., manage private equity funds owning real estate, small business finance, venture and hedge fund assets. Its seven senior staff have collectively almost 220 years of experience in investments, risk management, banking, law, tax and related specialties. For more information, please visit www.cweil.com or call Robert Gaan CFP® at 858-724-6043.