PALO ALTO, Calif.--(BUSINESS WIRE)--ShangBay Capital today announced Dr. Malcolm Munro and Michael Wallace have joined as Senior Advisors to its advisory team after the first closing of its third fund. The venture capital firm is one of the most prolific investors in medtech. Fund III, the largest fund to date, will invest in early-stage and growth stage companies addressing the most pressing challenges facing patients today.
ShangBay Capital’s team has a proven track record of identifying, financing, and building various medtech companies over the last several years. The team brings deep operational experience from more than 80 years of combined industry experience to help entrepreneurs build lasting companies.
“We are delighted to announce the addition of Michael Wallace and Dr. Munro to our team,” said William Dai, Founding Managing Partner. “In addition to their gifts as experts in their respective fields, Michael and Dr. Munro’s deep technical and operational expertise will add tremendous value to ShangBay as we partner with founders dedicated to make lasting impact in saving patient lives.”
Michael Wallace is a medical device executive and serial entrepreneur with over 25 years of experience and has a passion for purposeful innovation to help patients. He is currently the CEO and Co-founder of his 4th startup, DeVoro Medical. DeVoro is focused on disrupting the growing peripheral thrombectomy space with its novel WOLF thrombectomy platform. Michael also had 3 other successful startup exits that he co-founded: TW Medical (acquired by Stryker), GW Medical Neuro WOLF Solution (acquired by Stryker) and CardioProlific (acquired by Philips).
Dr. Munro is the Clinical Professor at the Department of Obstetrics and Gynecology at the David Geffen School of Medicine at UCLA. He is also on the Chair of FIGO’s Menstrual Disorders Committee and the Principal of M.G. Munro Consulting. He advises on device development, product research design, new business development, marketing programs, economic modeling, and legal and regulatory issues. Dr. Munro’s current or past corporate clients comprise a broad spectrum of pharmacology and device companies ranging from early-stage to multinational corporate entities many of which he has been, or is a member of, the Scientific Advisory Boards. He remains active in both medical education and in research which has included both clinical investigation and bench research on the impact of radiofrequency electricity on cells and tissue.
About ShangBay Capital
Founded in 2016, ShangBay Capital is a Silicon Valley-based venture capital company that brings investors access to best-in-class investments in U.S. medical device technologies, biotechnology and digital health sectors through early-stage venture equity participation.
