# Accelerator Fund

> Accelerator Fund is a VC fund in Pittsburgh backing Health Care and Medical Device. See 5 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Pittsburgh, United States
- Total investments: 5
- Last investment: Jun 2021
- Lead investor: 0%
- Last updated: Aug 2026
- Website: http://www.acceleratorfund.com

Accelerator Fund is a VC fund in Pittsburgh focused on Health Care and Medical Device. The Accelerator Fund, LLC makes early stage investments in life sciences companies located in western Pennsylvania. As the first fund sponsored and managed by the professionals of the Pittsburgh Life Sciences Greenhouse (PLSG), the Accelerator Fund is in the unique position of leveraging the talents and insights of those most closely aligned withwestern Pennsylvania’s robust reputation as an incubator for a new American spirit of entrepreneurial talent in biotechnology and the life sciences.The $8.1M Pittsburgh Life Sciences Greenhouse (PLSG) Accelerator Fund I provides life sciences companies with venture capital financing, which is the next step beyond capital provided by economic development organizations; friends and family; and angel investors. The PLSG Accelerator Fund, separate from and complementary to the PLSG, is building a portfolio of early-stage life sciences investments, primarily located in western Pennsylvania and spread across several life sciences sectors including medical devices, diagnostics, therapeutics, healthcare information technology and biotechnology tools.The PLSG Accelerator Fund I currently has eight portfolio companies and is fully invested. The value proposition of the Accelerator Funds is at least 2-fold: (1) PLSG executives manage the Funds, affording investors with a quality of personnel and depth of domain experience that likely would be otherwise available only through significantly larger funds; (2) the PLSG seeks to de-risk companies for Fund investors by investing, with its own early-stage dollars, in companies before the Fund invests. Only companies that already have performed successfully using PLSG investments or have demonstrated their potential by going through the PLSG diligence process are considered for Fund investment.A unique attribute of the Funds is that all the companies that are a part of our portfolio have already been vetted by the PLSG through due diligence, mentoring by the PLSG’s Executive Program services, and/or investments made through PLSG investment programs.The bottom line is that the Accelerator Funds represent a fundamental part of the PLSG’s commitment to generate long-term sustainability for PLSG portfolio companies while creating the best opportunity for returns for fund investors.Accelerator Fund executives all have domain and Fortune 100 company experience, having worked with companies such as Johnson & Johnson; Bristol-Meyers Squibb, and Boston Scientific, among others. They also have prior experience working successfully with early-stage companies. Each of the executives works with a particular vertical in our overall portfolio, developing existing portfolio companies; identifying potential additional portfolio companies.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 2 | 40% |
| Medical Device | 2 | 40% |
| Retail | 1 | 20% |
| Medical | 1 | 20% |
| Consumer | 1 | 20% |

10 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 2 | 40% |
| Series C | 2 | 40% |
| Series B | 1 | 20% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 2 | 40% |
| India | 1 | 20% |
| Canada | 1 | 20% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Hesa | Hesa unifies value chains in rural India by enabling local brands and businesses to come together as a community. | $2M | Seed | Jun 30, 2021 |  |
| ALung Technologies | ALung Technologies is a medical device manufacturing company that develops intracorporeal and extracorporeal gas exchange devices for the treatment of acute and chronic respiratory disorders. Its technology utilizes Hemolung, an extracorporeal gas exchange device that circulates blood through a small catheter; and Hattler Catheter, which is placedwithin the central venous bloodstream in the primary vein that returns blood to the heart and is inserted directly through the skin into the vein.The company was founded in 1997 and headquartered in Pittsburgh, Pennsylvania. | $36M | Series C | Apr 11, 2017 |  |
| Sampler | Sampler is a provider of digital product sampling services. The company helps consumer-packaged goods brands of all sizes and categories deliver physical samples to digitally targeted consumers. Its turnkey solution helps brands gather consumer feedback and demographic insights that helps increase successful trials and in turn conversion rates. | $472K | Seed | Feb 17, 2015 |  |
| Rinovum Women's Health | Rinovum Women's Health, Inc. develops medical devices for women. It offers Stork, a medical device that aids in natural fertility and conception in the privacy of home. | $3M | Series C | Dec 19, 2014 |  |
| ALung Technologies | ALung Technologies is a medical device manufacturing company that develops intracorporeal and extracorporeal gas exchange devices for the treatment of acute and chronic respiratory disorders. Its technology utilizes Hemolung, an extracorporeal gas exchange device that circulates blood through a small catheter; and Hattler Catheter, which is placedwithin the central venous bloodstream in the primary vein that returns blood to the heart and is inserted directly through the skin into the vein.The company was founded in 1997 and headquartered in Pittsburgh, Pennsylvania. | $15.8M | Series B | Sep 11, 2013 |  |

5 of 5 investments shown.

## Co-investors
- [Allos Ventures](https://shizune.co/investors/profile/allos-ventures) — VC Fund, 2 deals together
- [Birchmere Ventures](https://shizune.co/investors/profile/birchmere-ventures) — VC Fund, 2 deals together
- [BlueTree Allied Angels](https://shizune.co/investors/profile/bluetree-allied-angels) — VC Fund, 2 deals together
- [Venture Catalysts](https://shizune.co/investors/profile/venturecatalysts) — VC Fund, 2 deals together
- [100Unicorns](https://shizune.co/investors/profile/9unicorns) — VC Fund, 1 deal together
- [Abiomed](https://shizune.co/investors/profile/abiomed) — VC Fund, 1 deal together

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## FAQ

### What does Accelerator Fund invest in?

Accelerator Fund invests primarily in Health Care, Medical Device and Retail startups, most often at Seed and Series C stage. Most of the 5 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Accelerator Fund last invest?

The most recent investment recorded for Accelerator Fund closed in Jun 2021. Shizune tracks 5 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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