Fundraising FoxTucson · Seed–Series B · 4 people tracked
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Investment thesis
BlueStone Venture Partners invests in life sciences and information technology companies that operate outside the traditional venture capital hubs of the United States, with a particular focus on the desert Southwest. The firm believes the region holds overlooked opportunities supported by strong universities, unique research centers, and significant infrastructure, yet underserved by venture capital. Leveraging its management expertise, established deal pipelines, and relationships with industry-leading advisors and co-investors, the firm aims to identify promising companies and create value for its investors.
Source: firm website, verified Aug 3, 2026.
Team · 4 people
from the firm's website & public directories
Mara Aspinall is a healthcare and diagnostics industry leader and Co-Founder and Managing Director of BlueStone. She previously served as President and CEO of Ventana Medical Systems and President of Genzyme Genetics, co-founded the School of Biomedical Diagnostics at Arizona State University, and holds an MBA from Harvard and a BA from Tufts.
Tom Nickoloff leads management and strategic planning at BlueStone and is the founding member of Camino Real Capital Partners. He built his management and technology experience in the oil and gas industry and holds a B.Sc. in Geophysical Engineering from the Colorado School of Mines.
Chris Burwell is BlueStone's Manager of Research, handling due diligence and research on potential investments. He holds BS degrees in Finance and Supply Chain Management from the University of Illinois and previously interned at companies including HAVI, Finance Ireland, and Advance Trading.
What they invest in
from 12 of 12 portfolio companiesBiotech ×10Healthtech ×9Medical Devices ×6AI & Machine Learning ×3Deep Tech ×3Digital Health ×3Advanced Manufacturing ×1Hardware ×1
HQs:United States×8
Investments · 12 tracked
founders shown can be your intro pathBy year:2023 · 32019 · 14 dated
Strateos develops remote access laboratory software and automation platforms that enable scientists to design, execute, and analyze experiments through cloud-based robotics and control systems.
AI & Machine LearningBiotechDeep TechRoboticsSaaSMenlo Park, US
Chris Krueger(Executive Officer)inMark Fischer-Colbrie(Executive Officer, Director)inDavid Lynch, PhD(Chief Executive Officer)Marc Siladi(Chief Operating Officer)in
BoardJoshua Wolfe(Director)Armen Vidian(Director)in
Co-investorsDCVC (Data Collective)Lux CapitalThird Rock VenturesAlumni VenturesDolby Family VenturesHarmonix Fund+6 more
Akadeum manufactures GMP-compliant ancillary materials for cell and gene therapy applications, specializing in microbubble-based negative selection products.
Advanced ManufacturingBiotechDeep TechHealthtechMedical DevicesAnn Arbor, US
Kalyan Handique(Executive Officer, Director)John Younger(Executive Officer, Director)inJames Militello(Executive Officer)
BoardJeffrey S. Williams(Director)Paul D'Amato(Director)inDan Kidle(Director)in
Co-investorsArboretum VenturesBeringeaBerkeley CatalystCANTILEVER INVESTORSeLab VenturesHemisphere Ventures LLC+7 more
CND Life Sciences develops skin-based neurodiagnostic tests, including a test to detect abnormal alpha-synuclein in skin biopsies to help physicians diagnose Parkinson's disease and related synucleinopathies.
BiotechDigital HealthMedical DevicesScottsdale, US
Todd Levine(Executive Officer, Director)inRichard J. Morello(Executive Officer, Director)Peter Harris(Executive Officer, Director)inChristopher Gibbons(Director)
BoardJack Seaver(Director)Enrique Carrazana(Director)
Co-investorsTop Corner CapitalMBX Capital
Elucid develops artificial intelligence technology that analyzes CT images to identify hidden features of cardiovascular risk and guide personalized treatment of coronary artery disease.
AI & Machine LearningBiotechHealthtechMedical DevicesBoston, US
Blake Richards(Executive Officer)inKelly Huang(Executive Officer, Director)inRobert Braun(Director)
BoardEvan Melrose(Director)Rajesh Panda(Director)Michael Lesh(Director)
Co-investorsAngel Physicians FundAphelion CapitalIAG Capital PartnersMedTex Ventures LLC
GammaTile is an FDA-cleared, bioresorbable collagen tile embedded with radiation sources that is implanted during brain tumor removal surgery to deliver targeted radiation to remaining cancer cells.
BiotechHealthtechMedical Devices
David G. Brachman, MD, FASTRO(Co-Founder and Chief Technology Officer)Heyoung McBride, MD, MS, FASTRO(Co-Founder)Peter Nakaji, MD(Co-Founder)inEmad Youssef, MD(Co-Founder)Theresa Thomas, MS, CCRC(Co-Founder)Per Langoe(Chief Executive Officer)in
Co-investorsAccelmed PartnersEvidity Health CapitalFemHealth VenturesGilde HealthcareMedTech Venture PartnersMVM Life Science Partners+1 more
GT Medical Technologies develops GammaTile, an implantable radiation therapy device for treating operable brain tumors.
BiotechHealthtechMedical Devices
Co-investorsAccelmed PartnersEvidity Health CapitalFemHealth Ventures
NTx Bio develops proprietary cell-free synthetic biology platforms for on-demand, decentralized biomanufacturing of mRNA and proteins.
BiotechDeep TechHardwareHealthtech
Co-investorsAnzu Partners
Paradigm develops diagnostic tests for cancer, including assessments of hereditary risk, screening for the presence of cancer, and analysis of the genomic alterations in a patient's tumor to help guide treatment decisions.
BiotechDigital HealthHealthtech
Co-investorsNew Science Ventures
PreludeDx develops precision diagnostic tests for breast cancer to help physicians make informed treatment decisions and improve patient outcomes.
AI & Machine LearningBiotechHealthtechMedical DevicesNashville, US
Troy Bremer(Co-founder & Chief Scientific Officer)Daniel Forche(President & CEO)
Co-investorsFjord VenturesEvidity Health Capital
Pyx Health provides a member engagement and activation solution for health plans, combining in-home fresh food delivery, human care teams, and a digital app to address non-medical drivers of health such as loneliness and food needs.
Digital HealthHealthtechWellness & FitnessTucson, US
Cynthia Jordan(Executive Officer, Director)
Co-investorsArizona Founders FundS2G InvestmentsFounders Fund
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Portfolio news
latest coverage across their companies
Elucid Bioimaging · medtechdive.com · Sep 8, 2026
CND Life Sciences · finsmes.com · Aug 4, 2026
Akadeum Life Sciences · biospace.com · Jun 4, 2025
Frequently asked questions
- How many investments has BlueStone Venture Partners made?
- BlueStone Venture Partners has 12 tracked investments.
- What stage does BlueStone Venture Partners invest at?
- BlueStone Venture Partners invests at the Seed, Series A, Series B stages.
- What is BlueStone Venture Partners's typical check size?
- BlueStone Venture Partners typically writes checks of $250K – $1M.
- What sectors does BlueStone Venture Partners focus on?
- BlueStone Venture Partners focuses on Biotech, Digital Health, Enterprise Software, Healthtech, Medical Devices, New Materials.
- Where is BlueStone Venture Partners located?
- BlueStone Venture Partners is headquartered in Tucson, US.
- Who does BlueStone Venture Partners co-invest with?
- BlueStone Venture Partners most often shares deals with Evidity Health Capital, Anzu Partners, Arboretum Ventures, among 23 tracked co-investors.
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