MB Ventures in Spinal Restoration B round

In Memphis, Managing Partner Gary Stevenson confirmed MB Venture Partners recently participated in a $16MM Series B round for its portfolio company Spinal Restoration. The early-stage company recently announced progress toward clinical testing for its nonsurgical treatment of symptoms associated with low-back pain. MB Ventures is founder and co-host with Memphis Bioworks of the Musculoskeletal New Ventures Conference each year, with the next outing scheduled for October. Austin Ventures, Path4 Ventures and Sante Health Ventures also invested in the B.

VCs hold differing views on Tech plays

In one story, Seth Harward (left) of Frontier Capital says Nashville is a good hunting-ground for SaaS and IT companies for his private-equity firm, while in a second offering this morning MB Venture Partners' Gary Stevenson says he'd rather leave that to the natives, while he collaborates with them and tends his own chosen niche. The two stories thus complement one another.

MB Venture sets Fund III

Pitt Hyde-founded MB Venture Partners in Memphis is apparently angling toward the launch of its third fund, suspected to go north of $100MM, on top of the $76MM assets already under management at the bio-oriented firm. Read our story here, including MBVP Managing Partner Gary Stevenson's (left) nonrevelatory comment.