Sofinnova Partners has reached the final close of Sofinnova MD Start IV at €82 million. The oversubscribed fund will expand the firm’s strategy of creating early-stage medical technology companies across Europe and the US.
The fund plans to create six to eight new medtech companies over the next five years. Sofinnova said MD Start IV will support ventures from inception through clinical and operational milestones, combining capital with hands-on company-building support.
MD Start operates as Sofinnova’s in-house medtech accelerator, focused on creating and launching medical device companies. The strategy dates back to MD Start I, which closed at €8.2 million in 2008, followed by MD Start II at €10.3 million and MD Start III at €63 million.
The previous €63 million MD Start III fund invested in six companies that have collectively raised more than €140 million in follow-on financing, according to Sofinnova. Portfolio companies created or supported through the strategy include LimFlow, CorWave, BrightHeart and Moon Surgical.
Sofinnova Partners was founded in 1972 and operates from Paris, London and Milan. The life sciences venture capital firm manages more than €4 billion in assets and runs seven investment strategies spanning areas including biopharma, medtech, digital medicine and industrial biotechnology.
