Latterell Venture Partners

Pat Latterell, the founder and managing director, leads investment decisions. His background in biomedical engineering and his tenure at Morgenthaler Ventures shaped the firm's focus on medical devices and tools. Day-to-day evaluation leverages a network of clinical advisors rather than a large partnership committee.

The firm concentrates almost entirely on early-stage opportunities — seed and Series A rounds where the science is solidifying around a specific clinical application. It avoids growth equity and late-stage biotech financings where large syndicates and crossover funds dominate. The model is designed for high ownership at company formation.

The firm does not invest in enterprise software, consumer internet, fintech, or generalist technology. Within healthcare, it has historically avoided small-molecule therapeutics and large Phase III biotech financings that require substantial capital reserves. Investments stay close to interventional medicine and tools.

Latterell Venture Partners invests directly in portfolio companies and takes board seats where appropriate. It is not known to operate as a fund-of-funds or to allocate capital to outside GPs, keeping all investment activity inside its own fund vehicles.

The firm sources heavily through relationships with academic medical centers — Stanford, UCSF, and the Mayo Clinic are in its natural orbit — and through practicing surgeons who encounter unmet clinical needs. This clinical-advisor network surfaces opportunities before they reach broad institutional syndication.

Pat Latterell was a partner at Morgenthaler Ventures before founding Latterell Venture Partners. The firm carries forward the medical-device focus he built there, but Latterell Venture Partners is an entirely separate entity with its own funds and governance.

Public record shows notable exits including Acclarent (acquired by Johnson & Johnson). The firm's early-stage device focus means exits historically come through strategic acquisition by large med-tech companies rather than IPOs.