Sofinnova Partners has closed its MD Start IV fund, securing €82 million to launch up to eight medical technology startups. The new vehicle is approximately 30% larger than the firm's previous MD Start III fund, which closed at €63 million in July 2021.
The firm employs a hands-on model, with partners often serving as executives in their portfolio companies. For instance, BrightHeart, founded by Sofinnova, raised €11 million in January 2026, while Moon Surgical secured $55.4 million in May 2023 with backing from Sofinnova and NVentures.
The MD Start strategy has seen notable exits, including the acquisition of LimFlow by Inari Medical for up to $415 million. Other portfolio companies like CorWave have raised over €100 million, while Moon Surgical’s Maestro system has treated more than 3,700 patients.
Sofinnova Partners currently manages over €4 billion in assets. Since March 2025, the firm has closed three funds, including Biovelocita II at €165 million and Capital XI at €650 million in November 2025. The MD Start strategy is led by Anne Osdoit, Cécile Dupont, and Mano Iyer.
