Technology investment and development firm Miraki Innovation introduced the $175 million Medical Technology Breakthrough Fund.

The firm said it will use the fund's capital to finance and build the next generation of innovative medical technology companies.

Cambridge, Mass.-based Miraki was formed by Christopher Velis to identify and transform medical breakthroughs into companies with substantial investor returns. Velis co-founded surgical robotics company Auris Health Inc., which was bought by Johnson & Johnson in what was considered the largest venture-funded transaction in medtech history, Miraki said.