# Mike Carusi

> Mike Carusi is a General Partner at Lightstone Ventures, a leading life sciences venture capital firm based in Portola Valley, California, with $847 million in assets under management. With a career spanning over three decades in healthcare investing, Carusi has built a reputation as one of the most active early-stage investors in biotech and medical devices, appearing on the Forbes Midas List for top technology and life science investors. He co-founded Lightstone Ventures in 2014 after years at Advanced Technology Ventures (ATV), and has overseen landmark exits including Plexxikon (acquired by Daiichi Sankyo for ~$1 billion), Ardian (acquired by Medtronic for $800 million), Ra Medical Systems (acquired by UCB for $2.3 billion), and dozens more. He teaches healthcare venture capital at Dartmouth Tuck and is a faculty member of the Stanford Biodesign Emerging Entrepreneurs Forum.

- **Role:** General Partner at Lightstone Ventures
- **Organizations:** Lightstone Ventures, Advanced Technology Ventures (ATV), National Venture Capital Association (NVCA) - Board of Directors, Tuck School of Business at Dartmouth - Adjunct Lecturer, Stanford Biodesign Emerging Entrepreneurs Forum - Faculty, UCSF/Berkeley Venture Innovation Program - Advisory Board, Tallac Therapeutics - Board Director, EndoGastric Solutions - Board Director, Medisix Therapeutics - Board Member
- **Nationality:** American
- **Education:** BS in Mechanical Engineering, Lehigh University, MBA, Tuck School of Business at Dartmouth College
- **Known for:** Featured on Forbes Midas List of top technology and life science investors, Co-founded Lightstone Ventures with $847M in assets under management across three funds, Oversaw landmark exit: Plexxikon acquired by Daiichi Sankyo for approximately $1 billion (2011)

## Career timeline

- **1987** — Graduated from Lehigh University with a BS in Mechanical Engineering
- **1987-1991** — Worked in industrial equipment sales before pivoting to healthcare
- **1993** — Received MBA from Tuck School of Business at Dartmouth College
- **1993-1996** — Joined The Wilkerson Group, a healthcare-focused consulting firm; helped establish offices in London and San Francisco
- **1994** — Inhale Therapeutic Systems (now Nektar Therapeutics) went public; Carusi later joined as Director of Business Development
- **1996-2000** — Served as Director of Business Development at Inhale Therapeutic Systems (NASDAQ: NKTR), leading pharmaceutical and biotech partnerships across U.S., Europe, and Japan
- **2000** — Joined Advanced Technology Ventures (ATV) as a venture capital investor focusing on life sciences
- **2011** — Major exits: Plexxikon acquired by Daiichi Sankyo for ~$1 billion; Ardian acquired by Medtronic for ~$800 million
- **2014** — Co-founded Lightstone Ventures, raising a $172M inaugural fund
- **2017** — Lightstone Ventures raised second fund of $250 million
- **2021** — Lightstone Ventures III closed at $375 million (oversubscribed), bringing total AUM to $847M
- **2023-2025** — Continued building portfolio with focus on biotech and medtech; exits include Ra Medical (UCB, $2.3B), Tizona (Gilead $300M), Disarm (Eli Lilly, $135M)

## Achievements

- Featured on Forbes Midas List of top technology and life science investors
- Co-founded Lightstone Ventures with $847M in assets under management across three funds
- Oversaw landmark exit: Plexxikon acquired by Daiichi Sankyo for approximately $1 billion (2011)
- Oversaw Ardian acquisition by Medtronic for approximately $800 million (2011)
- Ra Medical Systems acquired by UCB for $2.3 billion
- Tizona Therapeutics: Gilead Sciences acquired 49.9% stake for $300 million
- Disarm Therapeutics acquired by Eli Lilly for $135 million
- 20+ IPOs and 22 acquisitions across portfolio companies
- Director on the National Venture Capital Association (NVCA) Board of Directors
- Adjunct professor teaching 5-week healthcare venture capital course at Dartmouth Tuck
- Faculty member, Stanford Biodesign Emerging Entrepreneurs Forum
- Advisory Board member, UCSF/Berkeley Venture Innovation Program

## Latest updates

- **2021-09** — Lightstone Ventures III closes at $375 million, oversubscribed, bringing total firm AUM to $847 million
- **2023-01** — Ra Medical Systems acquired by UCB for $2.3 billion - a major Lightstone portfolio exit
- **2024-01** — Disarm Therapeutics acquired by Eli Lilly for $135 million
- **2025-07** — Shoulder Innovations acquired - latest Lightstone portfolio exit

## Links

- Website: https://lightstonevc.com/team/mike-carusi/
- LinkedIn: http://www.linkedin.com/in/mike-carusi-56ab692b1
- Twitter/X: https://twitter.com/lightstonevc

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Profile page: https://yespress.io/mike-carusi
Published by YesPress — https://yespress.io
Last updated: 2026-05-18