Sofinnova Partners, a European life sciences venture capital firm based in Paris, London, and Milan, has announced the final close of its oversubscribed Sofinnova MD Start IV fund at €82 million. The new vehicle will expand the firm's medtech company creation strategy across Europe and the United States. It is designed to launch between six and eight new ventures over the next five years and support them through critical development milestones.
Fund Size and Strategic Mandate
The fund closed at €82 million, exceeding its target amid strong demand from limited partners. Sofinnova MD Start IV will provide capital and hands-on operational support to newly formed companies from inception through key clinical and commercial milestones. The strategy focuses on addressing significant unmet medical needs by combining clinical insight, entrepreneurial talent, and operational expertise.
Investor Support and Market Context
The oversubscribed close reflects sustained investor appetite for specialized medtech company creation strategies across Europe. Limited partners include both returning backers and new institutional investors seeking exposure to early stage life sciences innovation. Sofinnova's established platform, combined with its dedicated operational model, was central to attracting this level of support for the new fund.
A Proven Track Record
Sofinnova MD Start III, the previous €63 million fund, invested in six companies that have collectively raised more than €140 million in follow-on financing. This earlier fund demonstrated the viability of the firm's active company creation model in medtech. Its performance has helped build confidence among investors for the expanded mandate of the new vehicle.
Exit and Financing Outcomes
Portfolio highlights include LimFlow, which was acquired by Inari Medical for up to US$415 million, and PreCARDIA, which was acquired by Abiomed. CorWave has raised more than €100 million, signaling continued investor support for its technology. These outcomes illustrate the capacity of Sofinnova MD Start companies to attract strategic acquirers and substantial follow-on financing.
Regulatory and Commercial Progress
BrightHeart has secured both FDA and CE Mark clearance and recently completed an €11 million Series A financing. Moon Surgical received FDA and CE Mark clearance for its Maestro system, which has been used to treat over 3,700 patients to date. These milestones underscore the strategy's ability to move new technologies from concept to clinical and regulatory validation.
Leadership Commentary
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said the MD Start strategy is one of the few in Europe focused on creating medtech companies from the ground up. He noted that the team plays an active role in building and supporting every company from day one. Anne Osdoit, Partner at Sofinnova Partners, added that support from existing and new limited partners reflects confidence in the firm's hands-on model.
Strategy and Experienced Team
The MD Start approach draws on more than a decade of experience as a dedicated strategy for building and scaling medtech companies. It combines venture creation, operational support, and access to Sofinnova's global network across the life sciences value chain. The investment strategy is led by Partners Anne Osdoit, Cecile Dupont, and Mano Iyer, alongside Principal Marion Gasperment and Venture Partners Gérard Hascoët and Josh Makower.
Sofinnova Partners manages over €4 billion in assets and has backed more than 500 companies since its founding in 1972. The closing of Sofinnova MD Start IV strengthens the firm's ability to create and scale medtech companies in Europe and the United States. By combining capital with operational involvement, the fund aims to advance transformative medical technologies from the laboratory to patient care.