Vinik puts money to work on headache-relieving technology


    An investment fund and a foundation affiliated with Tampa Bay Lightning owner Jeff Vinik are among the investors that put up $70 million for a New Jersey biomedical firm working to commercialize a headache product.

    American Investment Holdings LLC, a multipurpose investment enterprise Vinik founded in 2013, and the Vinik Family Foundation joined other investors, including a venture capital arm of Merck & Co. Inc. (NYSE: MRK), in the Series B financing for electroCore, a press release said.

    Vinik, a former manager of the Fidelity Magellan Fund, has emerged as a significant investor in startups, both locally and nationally, since closing his own fund in 2013. He also partnered with Cascade Investment LLC on Strategic Property Partners, which is developing Water Street Tampa, a $3 billion mixed-use district planned between Tampa’s central business district and the Channel district waterfront.