Venture capital firm SJF Ventures, which maintains an office in Durham, is backing a California firm focused on auctions and sales of used and refurbished lab equipment as well as related services.
BioSurplus said it raised an oversubscribed A round of $2.4 million from SJF and KI Investment Holdings.
“SJF Ventures is pleased to support BioSurplus’ growth and Boston expansion,” said David Griest, managing director at SJF Ventures. “The company is a market leader in an emerging sector of asset recovery, which fills a strategic position in our portfolio. As the first investment of our third fund, BioSurplus aligns perfectly with our focus on capital efficient, growth stage companies offering proven solutions.”
As a result of the investment, BioSurplus will expand to Boston. It already has offices in San Diego, the San Francisco area, and Korea.
SJF also has offices in San Francisco and New York.