California dreamin': Red Tree VC shop takes Boston funds' spinout approach to West Coast
The leaves are brown, the temperature is warm and Red Tree Venture Capital is dreaming of California — and some other West Coast states as well.
The VC firm is out with its first fund, two years in the making and officially wrapped up in June, to bankroll at least a dozen biotechs and medical device startups for which the capital deployer wants to be the first institutional backer.
Named after its co-founder’s Stanford roots and the team’s love for the outdoors, Red Tree wants to replicate the university spinout approach that has cemented the biotech creation blueprint for Boston funds like Third Rock, Polaris, Atlas and Flagship, managing partner Heath Lukatch told Endpoints News in a preview of the Thursday unveiling.
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