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SJF Ventures Completes Oversubscribed Series A Round for BioSurplus
Date:7/17/2012

DURHAM, N.C., and SAN DIEGO, July 17, 2012 /PRNewswire/ -- BioSurplus Inc., a leading provider of equipment management services and pre-owned laboratory instruments, announces the close of an oversubscribed Series A financing round with new funding from SJF Ventures.  The company raised a total of $2.4 million following a May investment from KI Investment Holdings.

With these investments, BioSurplus has expanded in Boston more quickly than anticipated.  The company will hold its first Boston auction of like-new used laboratory equipment from one of the most respected area distributors.  The equipment will be on display Aug. 13-14 from 10 a.m. to 6 p.m. at 56 Roland St. in Boston, with the online auction being held Aug. 15-22.  In addition, BioSurplus seeks qualified candidates to fill five new Boston positions in operations, sales, business development and tech support.

"SJF Ventures is pleased to support BioSurplus' growth and Boston expansion," said David Griest, Managing Director at SJF Ventures.  "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."

"Our oversubscribed Series A round and successful regional expansion illustrates that BioSurplus fills a very unique and underserved market need for used and refurbished lab equipment and related services," said Preston "Cinco" Plumb, President and CEO.  "We are delighted to partner with SJF Ventures and KI Investment
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