Sofinnova Partners closes oversubscribed €82M Sofinnova MD Start IV fund

European life sciences venture capital company Sofinnova Partners has successfully closed its fourth medtech fund, Sofinnova MD Start IV, raising €82 million. The oversubscribed fund will bolster Sofinnova's strategy of creating medtech companies across Europe and the US, expanding its capacity to launch and nurture new ventures throughout their development stages.

Sofinnova aims to establish six to eight medtech companies over the next five years through the fund. The investment model combines clinical expertise, entrepreneurial talent, and operational know-how to develop companies addressing unmet medical needs. Sofinnova also offers portfolio companies access to its extensive global network, leveraging over a decade of experience in building and scaling medtech businesses.

Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, emphasized the fund's role in scaling this approach and maintaining a vital position within Sofinnova's overall life sciences value chain. Anne Osdoit, Partner at Sofinnova Partners, highlighted that the new fund will continue the firm's collaboration with engineers, clinicians, and scientists to bring medical technologies from the laboratory to clinical use.

The Sofinnova MD Start IV fund follows Sofinnova MD Start III, a €63 million fund that invested in six companies, which collectively raised over €140 million in subsequent financing rounds. Notable portfolio companies include LimFlow, acquired by Inari Medical for up to $415 million, PreCARDIA acquired by Abiomed, CorWave, and BrightHeart, which secured FDA and CE Mark clearances and recently raised €11 million in Series A funding.

Moon Surgical, another portfolio company, received FDA and CE Mark clearance for its Maestro system, which has treated over 3,700 patients.