Paris-based venture capital firm Sofinnova Partners has raised €82 million for a new fund to create and back medtech companies across Europe and the US, as investors increase capital for healthcare technologies.
The firm said the fund will support early-stage businesses developing medical devices and technologies, focusing on turning scientific research into commercial healthcare companies.
The funding comes as European medtech founders continue to struggle to secure early-stage capital.
The new fund will work with entrepreneurs, scientists, and research institutions to build companies from the earliest stages, giving founders access to capital and operational support as they develop their technologies.
For founders, the fund could create opportunities to access specialist funding and networks in a sector where diverse entrepreneurs remain underrepresented. However, its impact will depend on how broadly Sofinnova reaches beyond established European and US innovation hubs when selecting founders and technologies.
