Early-stage, CV-focused medtech company? A new fund has $100M in the bank up for grabs

Doctor putting stethescope to patient's chest
A new fund has $100 million for medtech companies working in cardiovascular research. (Rocketclips, Inc./Shutterstock)

A new $100 million (€85 million) capital fund out of Germany has closed and is looking for “ground-breaking” European, Israeli and American medical technology companies to help push on with heart disease tech work.

The so-called MedTech Venture Capital Fund comes from 415 CAPITAL and will focus on startups developing ground-breaking tech to diagnose and treat cardiovascular disease and its associated risk factors, including coronary artery disease, structural heart disease, stroke, hypertension and vascular disease.

First-closing investors include the European Investment Fund (EIF), KfW Capital, several family offices as well as medtech entrepreneurs, with 415 CAPITAL’s founding partners putting down 20% of the current fund size.

The Germany-based venture capital firm was set up by medtech investors Frank Groenewegen, David Thompson and Frederik Groenewegen, a trio that has privately funded 45 medtech startups, realizing more than 25 exits to date.

These include ReBound Therapeutics (sold to Integra LifeSciences in 2019), Claret Medical (sold to Boston Scientific in 2018), ReCor Medical (sold to Otsuka Holdings in 2018), ImThera Medical (sold to LivaNova in 2018), CardiAQ Valve Technologies (sold to Edwards Lifesciences in 2015) and CoreValve (sold to Medtronic in 2009).

Once a company is under its fold, 415 CAPITAL offers not just cash but also direct access to the European healthcare market through a partnership with medical device distributor CoRRect Medical GmbH, which works closely with doctors at more than 200 hospitals and clinical sites in cardiac surgery, cardiology, radiology and vascular surgery.

CoRRect has commercialized dozens of novel medical device technologies, including the world’s first pre-crimped coronary stents, transcatheter aortic heart valve replacement and the world’s first stroke protection for left-heart interventions.