MENLO PARK, Calif. – As a sign of its ongoing commitment to medical deals, ONSET Ventures in mid-March hired its executive-in-residence Leslie Bottorff as a venture investor.
Ms. Bottorff, who was vice president of sales and marketing at the medical device company Medtronic Inc., is the firm’s only professional devoted to medical investments. ONSET backs seed- and early-stage communications, software, e-commerce and information technology companies, and the firm’s General Partners Tom Winter and Robert Kuhling had been working part-time on medical deals.
Ms. Bottorff’s nearly one-year stint as an executive-in-residence will closely resemble her new role as a venture investor, which includes scouting deals, conducting due diligence and advising portfolio companies. Ms. Bottorff said she was excited about becoming a full-time VC and will apply her medical- device expertise to working with early-stage medical companies on strategy development in the commercial marketplace.
Ms. Bottorff already has helped ONSET close a deal with Conway-Stuart Medical, a company focusing on gastrointestinal therapies. Based on her recommendation, ONSET in November invested $2.8 million in the company’s first round of institutional investing.
Mr. Kuhling said the decision to hire Ms. Bottorff was based on her nearly two decades of operating experience in medical companies and the need to apply her knowledge to future deals.
Unlike many venture firms that are shying away from the medical sector in favor of technology deals, ONSET Ventures will continue to dedicate financing to the medical devices and drug delivery fields, Mr. Kuhling said.