A new investment group called Sky Ventures Group has launched in Boston to provide seed funding to life science and healthcare companies.

The entity is not a fund per-se; rather, it gathers angel investors and corporate investors who meet every two weeks to listen to vetted entrepreneurs’ pitches.

Currently, the group counts more than 60 members which are willing to put up anywhere between $100,000 and $4 million in seed investment, as long as a startup is vested in biotech, pharma, medical devices, diagnostics, digital health, health IT, mobile healthcare, healthcare services or industrial biotech. On top of the money, entrepreneurs and their teams can also count on free lab space and mentorship.

“There have been a lot of changes in the market – angel investors are getting better organized, more startups are crowdfunding, and you’re seeing large corporations collaborate with startups,” Sky Ventures managing partner Eyal Geffen said. “There are dramatic changes in terms of early stage funding – so we’re bringing together a mix of leading investors to jointly make investments.”

Sky Ventures doesn’t charge its members any fees, and it’s an invite-only club at the moment. Geffen didn’t indicate how much money, if any, is managed by the organization.

[Via: MedCityNews]