PITTSBURGH, February 3, 2012 – The PLSG Accelerator Fund, LLC (Accelerator Fund), issued a statement through its Managing Director, John W. Manzetti announcing the final close of the Accelerator Fund at $8.1 million.
“We are thrilled to have raised this important fund in a tough investor climate. Our investment partners are an incredible group of value-driven investors who have shown strong support to the team and the sector, and have invested their own capital to prove their confidence,” said John W. Manzetti, Managing Director of the PLSG Accelerator Fund. “The Accelerator Fund is the only pure life sciences venture capital fund in our region, and as such, is critical to growing the life sciences industry and supporting a sustainable economy.” Mr. Manzetti continued, “Although institutional investors continue to weigh the risk and time involved in funding life sciences companies, they are willing to invest in what they see as “game-changing” technology. The Accelerator Fund supports the capitalization of life-saving and life-sustaining technologies and leverages in-depth sector knowledge, an experienced investment team and a network of commercialization alliances making it a value-added investment partner.”
Mr. Manzetti added,” My team and I are very proud and privileged to have started the only life sciences venture capital fund in our region and we believe we offer our investor partners a unique opportunity to invest in “game-changing” life sciences technologies.”
The PLSG Accelerator Fund is being managed by The Pittsburgh Life Sciences Greenhouse (PLSG) to make venture investments in life sciences companies located in western Pennsylvania. The Accelerator Fund invests in companies that already have been vetted by the PLSG, a nationally-recognized investment firm committed to foster innovation and build successful life sciences companies, through investment due diligence and mentoring from the PLSG’s unique and exclusive Executive Program.