Sofinnova Partners, a European venture capital firm specialized in Life Sciences, closed its third medtech acceleration fund, at €48M.
MD Start III, which closed above its original target of €40m, received support from returning investors Bpifrance – through the French Tech Acceleration fund –, Medtronic, LivaNova, and several new investors including the European Investment Fund (EIF) and Baxter Healthcare Corporation. Additionally, it is supported by a number of serial medtech entrepreneurs, all contributing significant resources and expertise.
Led by Anne Osdoit, Partner in charge, MD Start III sources medtech innovations at their origin, when they are still concepts, and works with clinicians to develop their inventions into companies.
The team is made up of seasoned medtech operators practiced in catalyzing early stage opportunities, accelerating their development and translating them to the clinic. It provides both the seed funding and the operational manpower to develop outstanding medtech projects into companies with strong fundamentals.
MD Start was created 10 years ago by Sofinnova Partners and serial medtech entrepreneurs close to Sofinnova. It also had the early support of corporate leader Medtronic.
Its first two vintages were raised as independent companies and served to prove the model for seeding and accelerating groundbreaking therapeutic medical device projects.
As a result, MD Start created seven new companies.
For this third, collaborative vintage, the MD Start team will operate as a fund managed by Sofinnova Partners.