Endeavour Vision, a Geneva, Switzerland-based investor in the healthcare and technology sectors, closed Endeavour Medtech Growth LP (EMG) at €250m (US$275m).
The fund closed above its €150m target due to interest from new institutional investors and in now the largest fund dedicated to medtech in Europe.
Led by Managing Partners Sven Lingjaerde and Bernard Vogel, EMG is targeting high potential European and US companies in the medical device and digital health sectors, which have innovative solutions that have already gained regulatory approval and are starting to generate commercial traction.
The fund will support the worldwide development of companies, with a typical allocation between €10m and €20m per investment.
It has already closed four investments:
Gynesonics, a company developing and commercializing an innovative and minimally invasive treatment for uterine fibroids, and
ReShape Medical, a company which has developed an FDA-approved intra-gastric balloon for minimally invasive weight loss.
Two additional transactions will be announced in the coming weeks.