Kong said in an interview that he and his partners view the Southeast as the land of opportunity because the region has long been underfunded when it comes to attracting investments from venture capitalists.
HealthQuest has established offices in
"My hope is that I will be able to ... cover that area and find some great investments in
Kong said his commitments already bring him to the state about once a month. He is chairman of
Kong's ties to the Triangle are deep. He received a string of degrees from
HealthQuest plans to invest in a range of life science companies -- including medical device, diagnostics and health care information technology businesses -- that already have a product that has obtained the required regulatory approval.
Triangle entrepreneurs have struggled to raise venture capital in recent years, a problem that many trace to the dearth of Triangle-based venture capital funds that are actively investing in new companies. The
Startup and early-stage companies rely on venture capital dollars to expand sales and marketing efforts or develop new products. The venture capital firms receive an ownership stake in the business in exchange for the infusion of cash they provide.
Kong left Intersouth to become a partner at
HealthQuest doesn't plan to invest in biotech companies that are developing new medicines, in part because that's Sofinnova's focus. In addition, the sectors that HealthQuest is targeting are even more underfunded than biotech companies, Kong said.
HealthQuest initially targeted raising
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