SightLine Partners has announced the closing of a $107 million fund for secondary direct investments in late-stage med-tech companies.

SightLine Partners, based in Minneapolis, manages a series of private equity funds that provide financing solutions to later stage medical device and diagnostic companies.

The new fund, called SightLine Healthcare Opportunity Fund II, L.P., exceeded its original target of $100 million.

It is the successor to SightLine’s first secondary direct fund raised in 2009.