TAMPA — With ventures in pro sports and real estate development, Tampa Bay Lightning owner Jeff Vinik remains one of the bay area’s busiest business executives, and his money seems to be working on even more fronts.
A New Jersey-based bioelectronic medicine company, electroCore, has announced that two groups associated with Vinik — American Investment Holdings and the Vinik Family Foundation — were among the investors that participated in a round of fundraising that brought in a little more than $70 million for the company. The lead investor was Core Ventures II. Merck’s Global Health Innovation Fund also was a significant participant.
electroCore is working on a non-invasive, self-administered therapy to relieve migraine and cluster headaches by stimulating the vagus nerve. The company is distributing up to 1,200 of its gammaCore units across the country for treatment of episodic cluster headaches in adults. The term for this form of health care is neuromodulation.
This isn’t the only high tech company where Vinik, 58, has made recent investments. He also was the largest investor in a $6 million round of fundraising for StemRad, an Israeli manufacturer of radiation protection vests for soldiers, astronauts and nuclear power plant workers that recently opened its North American offices in Tampa.
Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times