Investor profile

BlueStone Venture Partners, LLC logo

BlueStone Venture Partners, LLC

Micro-fund

United StatesSouthwest US (New Mexico, Arizona, Texas, Oklahoma)HealthtechBio/PharmaDeep TechAI/ML

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Investment thesis

BlueStone Venture Partners is a life sciences venture capital fund that capitalizes on the strength, creativity, and innovation found in entrepreneurial companies outside of the traditional investment hubs in the United States. Rooted in the Southwest, the firm focuses on its 'Core Four' verticals — Medical Devices, Diagnostics, Digital Health, and Life Science Research Tools — targeting companies primarily in the 'NATO states' (New Mexico, Arizona, Texas, and Oklahoma), regions historically overlooked by legacy venture capital despite strong universities, unique research centers, and significant infrastructure. The firm combines deep operational, technical, and financial expertise to create value for portfolio companies, leveraging strong external networks and relationships with industry-leading advisors and co-investors. BlueStone invests in early-stage companies from seed through Series B, with a typical check size ranging from $250K to $1M, and a fund size of approximately $50 million. As a return-driven fund, BlueStone will also invest in US-based companies outside the NATO states if they fit its investment criteria.

Notable quotes

BlueStone Venture Partners' strength stems from partnering with businesses that reside in our shared innovation ecosystem. There is a dearth of venture capital support in the region despite strong universities, unique research centers, and significant infrastructure.

Tom Nickoloff · BlueStone Venture Partners website (bluestonevp.com)

BlueStone Venture Partners is a premier venture firm that invests in life-science technologies and companies in the Southwest.

Mara Aspinall · Innovate New Mexico event recap

Our focus is making state-of-the-art medical advancements like GammaTile more available to patients to address unmet clinical needs and ultimately improve the standard of care.

Mara Aspinall · GT Medical Technologies Series C press release (PRNewswire, March 23, 2023) · 2023-03-23

Team

Tom Nickoloff

Co-Founder & Managing Director

Deep TechHealthtechBio/Pharma

Mara Aspinall

Co-Founder & Executive Consultant

HealthtechBio/PharmaAI/ML

Chris Burwell

Manager of Research

HealthtechBio/Pharma

Andrew More

Director

Healthtech

Recent investments

CompanyRoundSizeDate
Predicta BiosciencesSeries A$23m2025-09-01
Predicta BiosciencesSeed$5m2024-07-01
GT Medical TechnologiesSeries C$45m2023-03-23
ElucidSeries B$27m2022-06-22
ElucidSeries A$8m2021-05-10
Akadeum Life SciencesSeries A$20m
Paradigm DiagnosticsSeries B$15m
NTx Bio (Nature's Toolbox)Series B$48m
BroadSpot Imaging CorporationSeed2018-10-01
Pyx HealthGrowth

Frequent co-investors

VC firmDeals together
IAG Capital Partners2
MVM Partners2
Gilde Healthcare Partners1
MedTech Venture Partners1
Arboretum Ventures1
Biovision Ventures1

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