Sofinnova closes oversubscribed €82M medtech venture-building fund
What's the deal? Sofinnova Partners has closed its Sofinnova MD Start IV fund at €82 million, the Paris-based life sciences firm announced. The fund was oversubscribed and will back new medtech companies across Europe and the US.
What's the endgame? Sofinnova plans to launch six to eight new medtech ventures over the next five years, supporting them from inception through clinical and operational milestones. The strategy pairs capital with hands-on company building — clinical insight, entrepreneurial talent, and operational expertise aimed at unmet medical needs.
The track record: Its predecessor, the €63 million Sofinnova MD Start III, backed six companies that have since raised more than €140 million in follow-on financing. Portfolio exits include LimFlow, acquired by Inari Medical for up to $415 million, and PreCARDIADealroom has a profile for this one. Try Dealroom →, acquired by AbiomedDealroom has a profile for this one. Try Dealroom →.
Other portfolio companies remain active: CorWave has raised more than €100 million, BrightHeart secured FDA and CE Mark clearance plus an €11 million Series A, and Moon Surgical's Maestro system has been used to treat over 3,700 patients.
Why now? The close extends a 20-year company-creation record for a firm that manages over €4 billion in assets and has backed more than 500 companies since 1972. "Sofinnova MD Start is one of the few strategies in Europe focused on creating medtech companies from the ground up," said chairman and managing partner Antoine Papiernik.
Partner Anne Osdoit credited limited partners for the raise. "Their commitment reflects confidence in our active, hands-on approach to company building," she said. The strategy is led by Osdoit alongside partners Cécile Dupont and Mano Iyer.
The signal: Dedicated venture-creation funds remain rare in European medtech, where founders often lack the technical and operational scaffolding that Sofinnova builds in from day one. The oversubscription suggests LP appetite for that model is holding, even as fresh capital flows to a capital-intensive, long-horizon sector.
Read more: sofinnovapartners.com
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