Friday, June 20, 2008

Saints Capital Buys Portfolio From Boston Scientific

San Francisco-based investment firm Saints Capital said Thursday that it has purchased the interest in fifty-four different companies, from Boston Scientific Corporation, in a deal of undisclosed size. Saints Capital acquires the venture capital portfolios on the secondary market, with a focus on helping sellers gain immediate liquidity or minimize future investment requirements in those firms. Boston Scientific's portfolio is the result of investments by the medical device maker in companies in the industry. Saints Capital said that Scott Halsted, formerly of Morgan Stanley Venture Partners, joins the firm to manage the newly acquired assets.