SJF Ventures, headquartered in Durham, N.C., has announced an investment in BioSurplus, a company providing services for managing the life cycle of laboratory instruments. SJF’s investment completes BioSurplus’ $2.4 million Series A financing, which also includes financing from San Diego-based KI Investment Holdings LLC. The financing is being used to fund BioSurplus’ East Coast expansion into Boston and expand its service offerings.
San Diego-based BioSurplus says it designs and implements solutions for every stage of the laboratory equipment life cycle, including buying and selling used laboratory equipment, equipment refurbishing, online auctions, inventory management software and the service and repair of existing assets.
“SJF Ventures is pleased to support BioSurplus’ growth and Boston expansion,” says David Griest, SJF Ventures’ managing director. “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.”
Preston Plumb, president and CEO of BioSurplus, says, “We are delighted to partner with SJF Ventures and KI Investment Holdings, whose recent investments have put us months ahead of schedule for our Boston expansion and have positioned us for future growth.”