Sofinnova Partners has successfully closed its MD Start IV fund, securing €82 million. This capital is earmarked for the creation of new medical technology startups in Europe and the United States. The firm plans to launch between six and eight companies over the next five years, providing both initial funding and operational guidance from the inception phase.
The new fund represents a 30% increase in size compared to its predecessor, MD Start III, which closed at €63 million in 2019. The previous fund supported six companies that subsequently raised over €140 million in follow-on financing. Notable exits from the strategy include LimFlow, acquired by Inari Medical for up to $415 million, and the acquisition of preCARDIA by Abiomed.
Founded in 1972, the Paris-based venture capital firm manages over €4 billion in assets across seven investment strategies. Its portfolio includes companies like CorWave, which raised over €100 million, and Moon Surgical, whose Maestro system has treated more than 3,700 patients. The firm recently also closed its flagship Sofinnova Capital XI fund at €650 million.
The MD Start strategy focuses on building companies from the ground up rather than investing in existing ones. The firm's history with this approach began in 2008 with MD Start I, which raised €8.2 million, followed by MD Start II in 2015 with €10.3 million. The firm maintains offices in Paris, London, and Milan, specializing in healthcare and sustainability sectors.
